12/01/2017 Water Market Insider: Water Markets in the Ogallala Aquifer
The Ogallala Aquifer is one of the largest groundwater basins in the United States, underlying eight states and supplying over 30% of the groundwater used for irrigation in the entire United States. Roughly $7 billion worth of crops are grown each year with groundwater supplied by the aquifer. The Ogallala Aquifer is quite stratified, both in terms of groundwater available and in how states are managing the resource. Since pre-development (1950), the Aquifer has seen about 270 million acre-feet of overdraft, which represents a 9% decline in total groundwater storage. Physical and institutional water scarcity are often catalysts for water market development, and so WestWater spent time this summer examining water trades in the Ogallala Aquifer in Colorado, Kansas, Nebraska, New Mexico, and Texas. Read more about our findings in the most recent Water Market Insider.