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Arizona is in a particularly weird spot with their arid climate at the end of river beds. And with water being one of the most perfectly inelastic demand type products out there, there is definitely a lot that can be said about this type of thing on both a personal/individual level, the government level but then also the corporate level as to how prices are determined. I think what is shown now is a smaller issue compared to more people going after less resource.
RE: Global Water Resources Expands Its Horizons by Ian Bezek