The Presidential Daily Brief


  1. Small pools of water stand on a dry section of Folsom Lake on March 20, 2014 in Granite Bay, California. Now in its third straight year of drought conditions, California is experiencing its driest year on record, dating back 119 years, and reservoirs thro

    Can Capitalism Wet the West’s Whistle?

    This might hold water. The priceless commodity in America’s drought-plagued West should cost more than a tenth of a cent per gallon, according to New York hedge fund boss Disque Deane Jr. He’s trying to convince farmers to sell their precious water rights — often dating back to the 1800s — so he can hydrate municipalities that can afford to pay more to allay their thirst. The supply-and-demand scheme is supported by conservationists, but others warn it could choke the food supply while hanging the poor out to dry.

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