Here in the USA we are used to the privatization of land, and some of us are aware that in some place in South America there has been an attempt (by an outside corporation) to privatize water.
How would that work: privatized water? I guess it means that if you want some water then you have to pay the corporation for it.
If you want some land, you either pay for it, steal it, or instigate a war and pretend that the land is somehow yours.
Nobody created the land itself, though they may have created or improved what's on it.
I think air is -- or will be, some day -- subject to the same basic notions as land is now in the USA, and as water could be in some places. You need land, air, and water, to sustain your life and the lives of your family. You may (if not already, then someday) pay someone for the land, the water, and the air. Why not? If it makes sense for one natural resource, why not for all natural resources?
In one possible scenario, people will first pay for air in space colonies, and then later some entrepeneurs will transport the idea to the planet. What's good for business in space colonies is good for business on Earth.
In another possible scenario, an engineering corporation will create a new kind of oxygen molecule, which will be "accidentally" or otherwise leaked into the environment and will drift around such that the corporation will be able to sue for patent infringement whenever anyone else is discovered in possession of said molecule. There's already something like that going on for corn, using genetic engineering and the wind (which blows seeds). There are all sorts of possibilities (such as engineering a disease for which only you hold the (patented) cure) and all these things can be very profitable, and likely supported by the U.S. and its Supreme Court. The United Nations or the World Court may not like it, but they don't have enforcement powers (bombs).
So what you may want to think about, just to plan ahead, is to save up some air, maybe compressed air in tanks, and bury it in your back yard (if you don't trust the air banks). Then when air becomes scarce you will be positioned for the kill -- economically of course. I mean you could sell part of it for a big profit and breathe the rest. Everyone who didn't save up any air would be at such a disadvantage, you might end up living a long time.
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