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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Owens Valley Revisited: A Reassessment of the West's First Great Water Transfer

Owens Valley Revisited: A Reassessment of the West's First Great Water Transfer

Libecap, Gary D.

Paperback

Technology & EngineeringRegional: West

ISBN10: 0804753806
ISBN13: 9780804753807
Publisher: Stanford Economics & Finance
Published: Jul 2 2007
Pages: 224
Weight: 0.68
Height: 0.49 Width: 6.09 Depth: 8.87
Language: English

In the contemporary West, pressures to more effectively reallocate water to meet growing urban and environmental demands are increasing as environmental awareness grows and climate change threatens existing water supplies.

The legacy of Owens Valley raises concerns about how reallocation can occur. Although it took place over seventy years ago, the water transfer from Owens Valley to Los Angeles still plays an important role in perceptions of how water markets work. The memory of Owens Valley transfer is one of theft and environmental destruction at the hands of Los Angeles. In reassessing the infamous transfer, one could say that there was no theft. Owens Valley landowners fared well in their land and water sales, earning more than if they had stayed in agriculture. In another sense, however, theft did occur. The water was not literally stolen, but there was a sharp imbalance in gains from the trade--with most of the benefits going to Los Angeles. Owens Valley, then, demonstrates the importance of distributional issues in water trades when the stakes are large.

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