Researchers at the University of California Davis Center for Watershed Sciences have attached a dollar estimate to the economic impact of the drought in California’s Central Valley. Their preliminary report, released earlier this week, estimates a total economic loss of $1.7 billion, along with “substantial long-term costs” of groundwater overdraft that will go unaccounted for.
Last year marked the driest year in California since records began in 1895, and in January Governor Jerry Brown declared a drought state of emergency. Seven of the state’s 12 main reservoirs are at or below 60 percent of the historical average, and a dry winter has left snowpack levels–an important source for replenishing water supplies–at just a fifth of historical levels, as of late April.
Read the complete article here: http://www.triplepundit.com/2014/05/california-drought-leaves-groundwater-reserves-vulnerable-cost-nears-2-billion/