here we go again. Banks mismanage their resources, unable to satisfy their customers’ withdrawals, declare bankruptcy, and the Federal Reserve intervenes in Lifeline to bail them out.

A banking crisis isn’t all that different from Arizona’s current water situation. The state has poorly managed water resources, with demand for water outstripping supply, but in contrast to the banking system, there is no backstop from the federal government. There are no mysterious water sources waiting to be tapped, no magic pipes from the Mississippi River, no glowing desalination plants offering endless supplies from Mexico.

Arizona needs to acknowledge that we created this problem, put aside the idea of ​​magic, and solve the looming crisis within our own borders.

The picture of a shrinking Lake Powell is impressive, but the hidden depletion of groundwater supplies is a bigger problem. Only a few counties have adopted management plans to protect these shared resources. For counties without a management strategy, it’s still the Wild West. Whoever drills the deepest wells has the “right” to drain the aquifer.

Arizona has become a magnet for out-of-state and foreign agricultural giants to tap into our water. handle It gave Saudi company Fondmonte the right to lease state-owned land at below-market prices and pump unlimited groundwater. Please read it again. This is land owned by the State of Arizona and leased to foreign companies by the State Department of Land at below market prices. It is estimated that this one run of his (3,500 acres) pumps over 20,000 acre-feet of water each year. Ironically, the CAP Canal runs just a few miles from the fields and supplies Phoenix with water at $242 per acre-foot.

Another example is an out-of-state agricultural giant that purchased land in Arizona to tap groundwater. Minnesota-based Riverview LLP bought Approximately 60,000 acres in Cochise County for large dairy operations. Since arriving in 2015, Riverview has drilled nearly 80 wells to depths of over 1,000 feet. It is estimated that more than 100 wells in the country have dried up since pumping began, leaving land abandoned by people who cannot afford to dig deeper wells. Even as groundwater levels drop, large farmers such as Riverview can afford to continue drilling. Homeowners and small farmers will be out of luck.

Make no mistake, Arizona allows (and in some cases encourages) the depletion of groundwater resources. Why are you allowing this to happen? A wise man once said: If you fall into a hole, stop digging.