water bank presentation (revisited)

I am presenting on water banking this Thursday 11/12/09 at the 2009 AWRA Annual Water Resources Conference. My abstract is summarized below. The final version has changed from my original submission. If you want to conduct some homework on water banks for my presentation, I'd recommend the Analysis of Water Banks in Western States. This paper will provide a general background and understanding of the vague term: water bank. I'm exploring specific private market opportunities that utilize water banks to mitigate future groundwater development.

YOU CAN BANK ON IT: UTILIZING PRIVATE WATER BANKS TO MITIGATE GROUNDWATER DEVELOPMENT

Abstract: With an increasing thirst and exhausting surface water resources, the arid West is becoming dependent on groundwater. As a result, there is a need for an efficient system to offset increasing groundwater development. The answer lies in private water banking. Water banks are defined as institutional mechanisms that facilitate transfer and exchange of water. Throughout the West, most of these institutions have operated on a large, public scale – failing to address water depletions on a local level. In contrast, privately owned water banks offer a better model to respond to specific groundwater withdraws. Just as wetland banks have augmented the loss of this resource, privately owned water banks have a role in the water market. This presentation will highlight the existing wetland banking system as it compares to water banking opportunities and the water market. The presentation will also recognize the characteristics of the water market that lends itself to private water banking. Details regarding various banking strategies will be provided, as well as examples of private water banking systems and their design. Finally, the presentation will highlight the functionality of private water banks and the benefits they bring to the water driven West.