Firstly, the Prince claimed that, “For every pound of beef produced in the industrial system, it takes two thousand gallons of water. That is a lot of water and there is plenty of evidence that the Earth cannot keep up with the demand”. However, it is a simple law of markets that the Earth can keep up with any level of demand, for any product.

If demand exceeds supply at a given price, prices will rise, until supply and demand are re-equilibrated. Increasing water prices will mean that beef is more expensive, naturally regulating the American consumption that Charles is so worried about. Water goes to beef production because steak, burgers and so forth are highly valued; if we were to ration the amount of water used in making beef, it would go to some other good which is less valued.

Since water rationing would also necessarily mean beef rationing, prices would increase nonetheless. The consumer, and in particular the less well-off consumer looking for cheap food, would be hit the hardest.

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