This has created tremendous opportunities for some with private water rights or for those who saved their extra water for a rainless summer. For a single acre-foot of water, buyers may be paying $2,200 according to an article by Garance Burke.
Some districts with extra water have made millions. The Buena Vista Water Storage District, for example, made $13.5 million.
Burke continues to point out some urgency for government intervention. “Some water economists have called for more regulations to keep aquifers from being depleted and ensure the market is not subject to manipulation.”
However, for now, the state is staying out of it, and the market will have to sort itself out. FG
—Summarized by FG staff from cited sources
PHOTO
Photo by Mikeal Dixon.
