Water Marketing in Texas: Opportunities for Reform

Abstract

Surface water marketing, as it is conducted in Texas, is assessed to identify areas of success as well as those meriting improvement.Overall, surface water markets have assisted the State in responding to changing conditions, but policy revisions are needed to repair the deficiencies of existing institutions.Concerning the extension of market policy to groundwater management, it is argued that the absolute ownership doctrine employed for Texas groundwater should be removed in favor of a market-oriented groundwater code derived from surface water law and experience.Recommendations for modifying both surface water and groundwater law are offered.