California Century-Old Water Rights Profit From Drought

 “Last summer, in the second year of California’s latest dry spell, Michael Perez, a farmer in the state’s Central Valley, paid $250 an acre-foot for water to irrigate his almonds, cherries, tomatoes, and cotton…. This year, with the drought hitting crisis levels, Perez was in for a shock: Water is now going for as much as $2,200 an acre-foot, an increase of more than 800 percent. ... ”  Read more from Bloomberg News here: California Century-Old Water Rights Profit From Drought