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Water Fights: Can the Free Market Tame the West’s Vital and Volatile Currency?

The Nicholas Institute for Environmental Policy Solutions' Martin Doyle told the Las Vegas Sun that water is "easily the most undervalued natural resource we have, aside from maybe air quality.” Water markets would help value that resource, but water trading is currently limited to one-off deals between two parties, deals governed by state regulations. “We don’t actually have—and pardon the pun—very liquid markets, because there are so many different people and entities that have a potential say in each individual transaction,” said Doyle.

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