From E&E News:
“A debate has raged for decades over the true price of water in the parched West. Edgar Terry’s answer: Let the market decide. The farmer is on the cusp of launching the country’s most robust groundwater trading market: cap and trade for water.
“We all deal in markets every day,” Terry said during a recent tour of his vegetable fields. “What makes water any different than oil? If you have oil under your ground, you get to pump it and sell it. And it becomes an asset on the balance sheet. Why can’t water become an asset?”
His timing couldn’t be better. … “