S4E13 - Can Groundwater Trading help California save $580 million per year?

with 🎙️ Ellen Bruno, Extension Economist @ UC Berkeley   💧 The Department of Agricultural and Resource Economics at UC Berkeley leads research and outreach on economic and policy issues relevant to California’s agriculture and natural resources. What we covered:  🌱 How the Sustainable Groundwater Management Act is a challenge and an opportunity for all the Californian water users  🧮 How when reducing water allowances, some approaches are more efficient than others  💰 How the price of Water influences its uses - and to which extent  🧮 What the price elasticity of water demand actually is, and how of inelastic good water is  🍏 How water trading and groundwater markets could better market failures and smoothen the transition towards water restrictions  🍏 How markets are not perfect, yet can be the best tool in a given context  🧮 How if you've invested in a crop, a bottom-line calculation enables you to determine the threshold at which it's profitable to stop watering it and let it die  🔬 How research happening in universities shall be leveraged into practical knowledge  🤔 Which levers can influence a water market, and how pertinent that influence actually is in the Californian example  🚰 How the groundwater tariffs in place in Coachella enable to artificially replenish the water table  🚜 How agricultural and urban users have slightly different behaviors when it comes to water and how to leverage it  🍏 How water market experiments are rolled out, and who shall best be participating in this trading  🍏 How to measure the (positive) impact of a water market compared with the status quo  🎤 The specificities of Water Management in Coachella, resemblances, and differences with Israel & Australia, farmers doing what's best for business, why groundwater is better suited to trading than surface water... and much more! 🔥 ... and of course, we concluded with the 𝙧𝙖𝙥𝙞𝙙 𝙛𝙞𝙧𝙚 𝙦𝙪𝙚𝙨𝙩𝙞𝙤𝙣𝙨 🔥  ➡️ Get the Full Story (including an infographic and full transcript)     Hosted on Ausha. See ausha.co/privacy-policy for more information.