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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: zebra4o1	11/4/2004 1:43:33 PM
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drought in Southwest What's up with this drought in the Southwest? Shouldn't this be having some effect on housing? Where does all the water come for these new developments? from NYT nytimes.com A severe Western drought - some say the worst in 500 years - is shrinking Lake Powell at the rate of up to a foot every four days. Since 1999, the vast reservoir has lost more than 60 percent of its water. "Short of several back-to-back years with 100-year runoff, Lake Powell will never be full again," said Dr. Tom Myers, a hydrologic consultant in Reno, Nev. Downstream users now consume 16.5 million acre-feet of water, but on average only 15 million acre-feet flow into the system each year, he said. Add more than a million acre-feet of water lost to evaporation and it is obvious that only during relatively wet years is it possible to add water. Today the lake is down 129 feet, back to the size it was in 1970, covering 131 square miles. Canyon walls are plastered with a chalky white bathtub ring of calcium carbonate 10 stories high, where the water once reached. Towering benches of silt line the former lake bed. This year 1.8 million visitors are expected. In two years, depending on the weather, Lake Powell could reach what hydrologists call inactive pool, meaning the water stored in the lake will not produce enough flow to generate hydroelectric power. A year or two after that, water could drop another 120 feet.

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