Black People : In dry California, water fetching record prices

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  1. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    In dry California, water fetching record prices

    FILE - In this May 1, 2014 photo, irrigation water runs along a dried-up ditch between rice farms in Richvale, Calif. In dry California, water is fetching record high prices. As drought has deepened in the last few months, a handful of special districts in the state's agricultural heartland have made millions through auctions of their private, underground caches that go to the highest bidders. With the unregulated, erratic water market heating up in anticipation of the hot summer months, the price is only going up. In the last five years alone, it has grown tenfold, shooting to as much as $2,200 an acre foot. (AP Photo/Jae C. Hong, FILE)

    The price spike comes after repeated calls from scientists that global warming will worsen droughts and increase the cost of maintaining California's strained water supply systems.

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    Some water economists have called for more regulations to keep aquifers from being depleted and ensure the market is not subject to manipulation such as that seen in the energy crisis of summer 2001, when the state was besieged by rolling blackouts.