Touch the Soil News #1770 (Feature Photo– Lake Mead – CCA 2.0 Generic, BLM Nevada)
For the first time in history, the United States Bureau of Reclamation, has declared a Tier 1 shortage, as relates to water levels, in Lake Mead. Lake Mead, located on the outskirts of Las Vegas, is the nation’s largest reservoir. Since 2000, when Lake Mead held almost 9.8 trillion gallons of water, levels have dropped every year. As of year-end 2021, Lake Mead has approximately 3.3 trillion gallons of water, roughly one third of its capacity.
While water levels have been at drought levels for over a year, the government decided to wait on making a formal proclamation, since the Tier 1 designation, signals the beginning of water curtailments. It’s almost as if water officials had hopes for a water miracle in 2021, so as to avoid making the announcement.
As it turns out, there is a pact between Colorado, Utah, Wyoming and New Mexico where the source of the water for Lake Mead originates, and Arizona, Nevada and California, where the water is destined. The originating states have a combined population of 11.8 million, and the destination states have a combined population of 49.8 million. What might be the impact, if the 62 million people, who are impacted one way or another by the Colorado Water Basin, through farming and urban living, consciously embrace hopes for a water miracle?
Speaking of miracles, little is known about the financial horsepower the Federal Reserve can initiate, through what is called quantitative easing. It can bring financing volumes to bear on national crises, at a cost that is almost next to nothing, other than the principal. For example, the Fed initiated roughly 2 Trillion dollars of new financing for U S government securities in the aftermath of the 2008 financial crises. The Fed initiated another roughly 2 trillion dollars of new financing for U S government securities in the aftermath of Covid. These activities additionally contributed to lower interest rates on the total U S national debt.
To make the point, if the hearts and minds of Americans coalesced around a vision to solve a big problem, it is not out of the realm of possibilities for a miracle, or its financing.
Audio of Story Text – Water Tremor
Total length: 2min 20sec