Water prices are rising quickly due to deepening California drought
Original post made by Resident, Another Palo Alto neighborhood, on Sep 5, 2008
Because of the uncertainty surrounding the winter rainfall, many of the details surrounding how the California water bank will work - including when the transfers would take place, how much buyers may pay for water and which districts are willing to sell - remain unclear. However, most observers agree that water prices are rising quickly. At Thursday's announcement, one official said a rice farmer may be able to sell his water for as much as $200 per acre-foot - up from $50 per acre foot not long ago (1 acre-foot of water is about 326,000 gallons and enough to cover 1 acre of land in 1 foot of water). Web Link
Can Palo Alto residents afford new large developments?