CALIFORNIANS TOLD THEY'RE SUFFERING AN EPIC DROUGHT, MEANWHILE 39 TRILLION GALLONS OF WATER GO UNTAPPED

"Fourteen months into a historic drought, with reservoirs running low and the Sierra snowpack 27 percent of normal, a growing number of Californians are wondering: Why isn't everyone being forced to ration?" ~ Paul Rogers, San Jose Mercury News

Not one to pass up a crisis, Obama has come to pitch yet another one of his schemes. Obama wants to stick future taxpayers for billions in outlays and interest for something his handlers have named a Climate Resilience Fund. 

Of course, because each year Congress runs a deficit, as all government spending is borrowed, the net result shall be cash accretion, which small make prices rise for items primarily paid by cash. So, facing the same output on offer, food bills shall rise. Gasoline shall rise. Movie ticket prices shall rise.

Californians never should fear being without water. Lake Tahoe holds a whopping 39 trillion gallons of water. That is enough water to flood California everywhere to a depth of 14.5 inches (36.83 cm)!

Lake Tahoe is the second deepest lake in the U.S.A. (1,645 ft; 501 m),  the 16th deepest lake on earth and the fifth deepest by average depth. Sixty-three tributaries feed the lake. 

Lake Tahoe feeds the Truckee River, which flows into Pyramid Lake, Nevada. Only one third of the water that leaves the lake leaves via the Truckee. 

Two-thirds of the water that leaves the lake gets wasted, evaporating into the air from the surface. 1,400,000 tons of water (330 million gallons; 1,249,186 kiloliters) evaporate from the surface of Lake Tahoe every day, which is enough to meet the water needs of all 3.5 million people living in Los Angeles, every day!

Meanwhile, one storm over the weekend doubled the mountain snowpack, even being labeled as "a game-changer." According to KTVU:

The snowpack in the Truckee River Basin jumped from 16 percent of normal for the date last Friday to 35 percent on Monday. Lake Tahoe Basin's went from 26 percent to 53 percent, the Carson River Basin from 31 percent to 53 percent and the Walker River Basin from 27 percent to 38 percent of normal.

Unfortunately, long ago, a U.S. Congress laid claim to 75% of the watershed of Lake Tahoe. Since then other Congresses have given management of the lake to the United States Forest Service (Lake Tahoe Basin Management Unit).

What makes Americans' food supply so resilient are futures markets for various foodstuffs. For the same, Californians should embrace a futures market for water. Having a futures market for water would keep prices steady and supply sufficient.

A continuous, open market for water contracts would assure reasonable return to capital needed to create property in water. In so doing, prices would reflect the highest, best uses, and thus achieve among other things, conservation, without the need of a heavy-handed, inept, pseudo-scientific technocratic bureaucracy. The technocrats of California with their pseudo-science have failed to protect Californians from the vagaries of nature in a way that only futures markets can. 

It is for futures markets that Americans never run out of gasoline or food. Why should Americans view water as different from these other things?

To discover a bit more about futures markets, read here: WHY FUTURES MARKETS SHOULD SET THE FEDS FUNDS RATE RATHER THAN THE FEDERAL RESERVE BOARD OF GOVERNORS

For more perpetual fear-mongering over California water, check out OH NOOOOO! MORE POLITICAL FEAR MONGERING OVER WATER AND CALIFORNIANS MEANWHILE BILLIONS OF WATER POUR INTO THE PACIFIC.