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Lecture_7 - – Urban and Environmentalists as new...

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NR Econ Lecture 7 Module III: Water Use Application: California’s Central Valley Project
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Central Valley Project (CVP) Huge water storage and supply project constructed by the Bureau of Reclamation Authorized in 1935; constructed in stages over next 50 years 20 dams and > 500 miles of canals 7-8 million acre-feet of water supplied (1 acre-foot = 326,000 gallons of water) 95% of water earmarked for agriculture 2.6 million acres of agricultural land Crops require 2 to 4 acre-feet per acre
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Central Valley Project
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CVP Production as Percentage of U.S. Production Almonds 32% Grapes 31% Walnuts 18% Melons 56% Apricots 76% Rice 9% Tomatoes 48% Cotton 10% (processing) CVP is the largest single agricultural region in the world in terms of value of output
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Contemporary Water Politics in California Transition -- old to new political coalition Urban and Agriculture as old coalition
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Unformatted text preview: – Urban and Environmentalists as new coalition • Legislative reform in the U.S. Congress – “Central Valley Project Improvement Act” (1992) Central Valley Project Improvement Act • “Policy Tools” in the new law – Water price increases – Water reserved for environment (15-20% of total supply) – Voluntary water transfers (deregulation of water markets) Will price increases reduce water use? • Existing water price: $10 per acre-foot • New water price: $19 per acre-foot • Shadow price: $50 per acre-foot How do we analyze this case? Next slide: Results for 12 farm districts with water supplied by the Tehama-Colusa Canal Concluding Comments • Model 1: Producer Behavior with Water as a Quantity-Rationed Input • Application: Central Valley Project...
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