Drinkable water is a precious commodity. But as population growth, aging infrastructure, drought, and climate change pose challenges to freshwater quality and quantity in America, the safety and amount of water in parts of the U.S. is in question. With more than 140,000 separate public water systems in the country, how can federal, state, and local governments, along with the various water authorities, take on this challenge alone? In this episode we hear from global water and natural resources expert Barton “Buzz” Thompson, about this new book Liquid Asset: How Business and Government Can Partner to Solve the Freshwater Crisis —and his recommendations for how to solve the freshwater crisis in the U.S.

Connect:

• Episode Transcripts >>> Stanford Legal Podcast Website
• Stanford Legal Podcast >>> LinkedIn Page
• Rich Ford >>>  Twitter/X
• Pam Karlan >>> Stanford Law School Page
• Stanford Law School >>> Twitter/X
• Stanford  Law Magazine >>> Twitter/X

Links:

• Buzz Thompson >>> Stanford Law School Page
• Liquid Assets: How Business and Government Can Partner to Solve the Freshwater Crisis.
• Paul Milgrom & Auction Theory

Chapter Timestamps:

(00:00:00) Introduction & Water's Scarcity 

Hosts Rich Ford and Pam Karlan introduce guest, Buzz Thompson, an expert in water law and author of Liquid Assets

(00:01:18) Water Challenges Today

The scarcity of fresh water globally, and the multiple crises facing water resources: uneven distribution, climate change and the depletion of groundwater resources.

(00:04:30) Water Infrastructure 

What is water infrastructure in the United States, the current state of it, and the repairs and upgrades required and being undertaken.

(00:07:14) Updating Infrastructure & 21st-Century Technology 

Examples of modern wastewater treatment methods, advocating for resource recovery centers and outlining their potential benefits by adopting 21st century technology.

(00:09:08) Fragmented Water Systems 

The complexity of water systems, & the challenges created by small water systems 

(00:12:00) Water Rights & Legal Structures 

The current legal structure of water rights in the USA,and defining the goals of both protecting water as a public resource, and a private commodity.

(00:16:25) Private Sector's Role & Future Solutions 

Buzz discusses water markets internationally, and the private sector's role in innovation, technology, and financing to bridge the gap in water management. 

(00:18:59) Challenges with Outdated Water Rights 

Rich & Buzz  discuss the challenges created by the current water rights model, and the necessity, possibilities, and challenges for legal reform.

(00:21:18) Proposal for Tradeable Water Rights 

The concept of converting existing water rights into more easily transferable ones similar to real property, in order to eliminate the current challenges.

(00:25:49) Changing a System of Water Rights

Australia's successful reform in the Murray-Darling Basin, where water rights were revamped for better tradeability and how they safeguarded the environment.

(00:27:31) Conclusion

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