As many struggle to cope with California’s record-breaking drought, those with the scarce resource are cashing in.
Garance Burke reports for the Associated Press: “Economists say it’s been decades since the water market has been this hot. In the last five years alone, the price has grown tenfold to as much as $2,200 an acre-foot — enough to cover a football field with a foot of water.”
“Unlike the previous drought in 2009, the state has been hands-off, letting the market set the price even though severe shortages prompted a statewide drought emergency declaration this year.”
Toughened enforcement of water violations is in the works with state authorities.
Matt Weiser reports in the Sacramento Bee: “The State Water Resources Control Board, after meeting for nearly 12 hours over two days, voted unanimously to approve the new rules package. The emergency regulations mean that for the next nine months, the board can follow a streamlined process to force some water-rights holders to stop diverting from rivers and streams.”
“The action came after the board was told that only 31 percent of nearly 10,000 water-rights holders statewide have responded to curtailment notices issued over the past six weeks.”
Wildfires blaze through Napa Valley, threatening its world famous wineries.
Evan Sernoffsky and Kurtis Alexander report for the San Francisco Chronicle: “With rainfall at near-historic lows over the past 12 months - on the heels of two previous years with little precipitation - the forests and grassland of Northern California are exceptionally parched.”
“"No one can really remember it being drier than this," said Bill Stewart, a forestry specialist at UC Berkeley. "We're like two months drier than usual. This is like September, when everything is nearly bone-dry."”
Now you can cash out your Bitcoins at ATMs at two Southern California locations.
Scott Bridges reports for the L.A. Biz Journal: “A pair of Locali Conscious Convenience stores, one in Hollywood and one in Venice -- 5825 Franklin Ave. and 701 Lincoln Blvd., respectively -- will house the first two Bitcoin ATM machines in Los Angeles, the Los Angeles Register reported Wednesday.”
“Santa Monica startup Expresscoin is reportedly managing and supplying the digital currency for the machines.”
Lawmakers and industry interests are calling for a delay in an air quality regulation standard they say will increase costs for consumers.
Neil Nisperos reports for Inland Valley Daily Bulletin: “Dave Clegern, spokesman for the California Air Resources Board, said there is no requirement in the AB32 cap and trade regulation that any kind of compliance cost would be passed on to the consumer.”
““That’s a call for the suppliers of the oil industry,” said Clegern, who added there are no full compliance obligations until November 2018.”
“They really don’t have to pony up anything until November, 2018,” Clegern said. “And the fact is that many (suppliers) have been buying carbon allowances since 2012.”
California’s insurance commissioner is in the hot seat for his ballot proposal to attain authority over health insurance rates.
Chad Terhune reports in the Los Angeles Times: “Consumer Watchdog, the Santa Monica advocacy group that gathered signatures to put Proposition 45 on the ballot, said those rate hikes that couldn't be blocked instead have cost Californians an additional $253 million.”
“Insurers and their allies fiercely oppose Proposition 45. They say the federal health law and new state insurance exchange make further regulation unnecessary and could actually undermine those reforms.”
Pending state Senate leader Kevin DeLeon back tracks on remarks he made about the Central Valley, in reference to plans to lay the first tracks of the high-speed rail there.
Tim Sheehan reports in the Fresno Bee: “DeLeón was unavailable Wednesday to comment for this story. His staff this week clarified DeLeón's position on high-speed rail construction and offered apologies for his broad "out in the tumbleweeds" remarks.”
“His Valley colleagues in the Senate, meanwhile, say they're inclined to cut him some slack -- and work to make sure he understands that there is more to the region than tumbleweeds.”
Own a machine guns? Craving bacon? Well, problem solved:
Solution via Reddit: “Behold this handy step by step guide:"
"You start by wrapping the barrel in tin foil. Then you wrap bacon around it, and tie it down with some string…"
"After just a few short bursts you should be able to smell the wonderful aroma of bacon.”
