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Water Futures Market Fails to Make a Splash with California Farmers

/in , , /by /Reutersby Karl Plume

Former bond trader Alan Boyce is just the type of California farmer expected to dive into the world’s first water futures contract.

Boyce is comfortable navigating financial tools, and he grows irrigated pistachios, tomatoes, alfalfa and other crops in California’s drought-prone Central Valley. But he says the water contract is still too illiquid to benefit him.

Financial exchange operator CME Group launched the contract late last year to help big California water users such as farmers and utilities hedge rising drought risk and give investors a sense of how scarce water is at any given time. The exchange and a United Nations report said this is the first water futures contract in the world.

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Opinion: Is it Time to Start Thinking About the Worst-Case Scenario on Lake Mead?

/in , , /by /Arizona Republicby Joanna Allhands

It seemed like Colorado River basin states were ahead of the curve in 2007 when we enacted a 20-year set of guidelines that spelled out what would happen if Lake Mead were to ever fall into a shortage.

But a decade later, as water levels at the lake plummeted, it was clear that we hadn’t planned nearly enough for shortage. A “stress test” that better accounted for more recent drought conditions revealed that if we didn’t do more to prop up water levels, there was an unacceptably high chance of the lake tanking within a few years.

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Opinion: Proposed Budget Doesn’t Do Justice to Water Storage

/in , , /by /CalMattersby Vince Fong

Gov. Gavin Newsom and legislative Democrats had the opportunity to alleviate the state’s twin crises of drought and wildfire by including resources for ongoing funding, prescribed burning and water storage in this year’s budget. These solutions are not new, but they require political will. In light of the haunting memories of past catastrophic wildfires, this year’s budget will miss an opportunity.

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Opinion: Record-Setting Heat Wave Shows That Climate Change is Creating Hell on Earth

/in , /by /Los Angeles Times by The Times Editorial Board

The record-breaking heat wave baking the West Coast is another painful sign that climate change is here, and we have to adapt.

The Pacific Northwest has been sizzling, with conditions forecasters have described as unprecedented and life-threatening. Portland, Ore., hit 113 degrees Monday, breaking the previous all-time high of 112 degrees, set Sunday. About 100 miles to the south, in Eugene, the U.S. track and field Olympic trials were halted Sunday afternoon, and spectators were asked to evacuate the stadium, due to the extreme heat.

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Five Things to Know About Newsom’s budget Deal with Legislature

/in , /by /CalMattersby Laurel Rosenhall, Sameea Kamal and Manuela Tobias

California lawmakers voted tonight to approve a record-busting state budget that reflects new agreements with Gov. Gavin Newsom to expand health care for undocumented immigrants, spend billions to alleviate homelessness and help Californians still struggling through the pandemic.

The $262.6 billion spending plan for the fiscal year that begins July 1 was fueled by a $76 billion state surplus and $27 billion in federal aid. Democrats who control the Capitol wanted to use the windfall to help the state recover from the coronavirus pandemic and its uneven toll on Californians.

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Lake Jennings 2021 Spring Photo Contest Winners Depict Life At The Lake

/in , , /by /Water News Network Mentioned: San Diego County Water Authority

The theme “Life at the Lake” inspired 61 photographers to enter the 2021 Lake Jennings Spring Photo Contest, held for the 10th year by the Helix Water District. Photographer Johnathan Bradley of Lemon Grove won first place for his image titled “Open Field” and second place for the photo “Sun Star.” Third place went to Jeff Morin for “Ladies On  A Lunch Break.”

Each of the entries highlighted the unique beauty of Lake Jennings activities enjoyed by locals and visitors, including camping, fishing, hiking, spotting wildlife, and enjoying the view.

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California’s Drought and Wildfire Dangers Rising at Stunning Pace

/in , , /by /Los Angeles Timesby Faith Pinho and Alex Wigglesworth

California’s drought and wildfire conditions are accelerating at unprecedented rates, according to state officials, and residents should brace for a summer of widespread burning and mandatory water conservation measures in some regions.

As reservoir levels across the state continue to drop, and as parched vegetation poses an increasing threat of wildfire, officials in Sacramento and Southern California offered a bleak assessment of the state’s drying climate, saying it has already begun to affect people, plants and animals.

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Drought Woes in Dry US West Raise July 4 Fireworks Fears

/in , , /by /AP Newsby Lindsay Whitehurst

Many Americans aching for normalcy as pandemic restrictions end are looking forward to traditional Fourth of July fireworks. But with a historic drought in the U.S. West and fears of another devastating wildfire season, officials are canceling displays, passing bans on setting off fireworks or begging for caution.

Fireworks already have caused a few small wildfires, including one started by a child in northern Utah and another in central California. Last year, a pyrotechnic device designed for a baby’s gender reveal celebration sparked a California blaze that killed a firefighter during a U.S. wildfire season that scorched the second-highest amount of land in nearly 40 years.

Some regions of the American West are experiencing their worst drought conditions in more than a century this year, said Jennifer Balch, director of Earth Lab at the University of Colorado.

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An Entire California Town is Without Running Water — In a Heat Wave

/in , , /by /CalMattersby Melissa Montalvo

This is how California’s water crisis is going these days: The only functioning well in the rural community of Teviston broke in early June, leaving more than 700 residents without running water as temperatures in the Central Valley soared to triple-digits in a drought.

“It’s day to day” for the people of Teviston, said Frank Galaviz, a board member of the Teviston Community Services District, in an interview with The Fresno Bee.

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Severe Heat, Drought Pack Dual Threat to Power Plants

/in , , /by /E&E Newsby Hannah Northey and Peter Behr

Record-setting heat and drought gripping the western United States are exposing a potentially severe risk to the nation’s long-term power supply, and experts warn that grid operators lack sufficient tools to plan and carry out a defense.

A future of worsening water scarcity in heat-blistered parts of the United States could imperil fossil fuel power plants and nuclear reactors that depend on enormous quantities of fresh water in their operations, according to a report by a group of analysts from the Energy Department’s National Renewable Energy Laboratory and other researchers.

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