It takes 1,000 tons of water to produce 1 ton of grain. As water becomes scarce and countries are forced to divert irrigation water to cities and industry, they will import more grain. As they do so, water scarcity will be transmitted across national borders via the grain trade. Aquifer depletion is a largely invisible threat, but that does not make it any less real.

The problem with water, though, is that the shortfalls don't show up until the very end. You can go on pumping unsustainably until the day you run out. Then all you have is the recharge flow, which comes from precipitation. This is not decades away, this is years away. We're already seeing huge shortages in China, where the Yellow River runs dry for part of each year. The Yellow River is the cradle of Chinese civilization. It first failed to reach the sea in 1972, and since 1985 it's run dry for part of each year. For 1997 it was dry for 226 days.

The challenge is either to build an economy that is sustainable or to stay with our unsustainable economy until it declines. It is not a goal that can be compromised. One way or another, the choice will be made by our generation, but it will affect life on earth for all generations to come.

In the Middle East, where populations are growing fast, the world is seeing the first collision between population growth and water supply at the regional level. For the first time in history, grain production is dropping in a geographic region with nothing in sight to arrest the decline. Each day now brings 10,000 more people to feed and less irrigation water with which to feed them.

The transition from coal, oil, and gas to wind, solar, and geothermal energy is well under way. In the old economy, energy was produced by burning something - oil, coal, or natural gas - leading to the carbon emissions that have come to define our economy. The new energy economy harnesses the energy in wind, the energy coming from the sun, and heat from within the earth itself.

Socialism failed because it couldn't tell the economic truth. Capitalism may fail because it couldn't tell the ecological truth.

Nations are in effect ceding portions of their sovereignty to the international community and beginning to create a new system of international environmental governance.