Jonathan R. Schutz, Mabey Wright & James, , jon.schutz@gmail.com
Abstract
For the past 160 years, the prior appropriation system of the Western United States has adapted to changing water uses and shifting societal priorities. The test of the prior appropriation doctrine will be whether it is rigid enough to provide stability to protect existing systems and expectations, yet flexible enough to deal with changing, likely diminished, water supplies. This paper argues that prior appropriation creates sufficient certainty to allow for economic development and facilitate water markets, yet is flexible enough to adapt to changing priorities and water supplies. Because it possesses both flexibility and certainty, it is as good a system as any to weather the possible effects of climate change on water supply.
Keywords: water rights, climate change, markets