Daniel

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In an economic sense, what the backers of the Pacific Southwest Water Plan were proposing was unprecedented. It violated every principle of economics, even the fast and loose principles of Reclamation economics. If the lion’s share of the power revenues were going to subsidize not only irrigation but municipal water costs—municipal water whose revenues had usually subsidized irrigation in the past—the project could not possibly be paid back for hundreds of years, if ever. The cost, which had to be in the many billions, would simply be borne on the backs of the taxpayers. From a national ...more
Cadillac Desert: The American West and Its Disappearing Water
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