Tag Archives: water markets

Inefficient Markets, Perverse Incentives and Regulatory Hurdles Part II: The Potential Cures to California’s Water System

For the last few winters, forecasters have seen promising El Niño conditions form in the Pacific, only for the conditions to fizzle in 2013 (jokingly referred to as “la nada”) and again in 2014. For this winter, scientists now have no doubt that El Niño conditions will remain in the Pacific – the only questions are when the rains will begin and how severe they will be. According to the latest NOAA readings, current average temperatures in the Southern Pacific (dubbed “Region 3.4”) are 3.0 degrees centigrade above normal, which is higher than the 2.8 degrees above normal that the 1997-98 El Niño pattern saw at its peak during the week of November 26, 1997. The strength of the current El Niño conditions have led some scientists to dub the pattern as “Godzilla,” and some scientists predict that the conditions could bring a wave of very strong storms to the Western United States this winter. Continue reading