New Research Shows Billions in Economic Risk from Continued State Inaction on Water Supply
SACRAMENTO, CA, May 14, 2025 (EZ Newswire) -- A new economic analysis by Jay Lund (UC Davis), Josué Medellín-Azuara (UC Merced), and Alvar Escriva-Bou (UC Davis) shows the high cost of inaction on California's perpetual water supply challenges, estimating that the state could lose enough water annually to supply up to 9 million households—with economic losses totaling between $3.4 billion and $14.5 billion per year, depending on the severity of the scenario.
The study, Inaction's Economic Cost for California's Water Supply Challenges, builds on prior research showing that California's total water supply is on track to shrink by 12–25% by 2050, a loss of up to 9 million acre-feet per year, equivalent to one or two Lake Shastas. The new report emphasizes that without coordinated state action, these reductions could result in the fallowing of up to 3 million acres of farmland, the loss of 67,000 jobs, and lasting damage to California's agricultural and rural communities.
The research underscores the urgency of Senate Bill 72, authored by Senator Anna Caballero, which would create the first-ever statewide water supply target and direct California to develop 9 million acre-feet of new water supply by 2040. The bill aims to bring federal, state, regional, and local partners together to better plan, invest, and build toward a more secure, reliable, and sustainable water future.
The study identifies four primary factors contributing to California's anticipated water supply decline:
'We've done the math—and the costs of inaction are high economically and environmentally,' said Dr. Jay Lund, Professor of Civil and Environmental Engineering at UC Davis. 'California urgently needs a long-term, statewide strategy to prepare for growing water challenges ahead.'
While conservation efforts remain vital, the research indicates they alone are insufficient to address the projected water deficit. New investments in stormwater capture, water recycling, desalination, and storage and conveyance infrastructure are also essential.
'California's water system was designed for a climate that no longer exists,' said Senator Caballero. 'SB 72 provides a roadmap to adapt our water strategies and tactics to meet the demands of our changing environment, expanding economy, and growing population.'
'From the local perspective, a statewide strategy to improve California's water resilience that includes long-term planning and investment will not succeed without measurable outcomes and timelines,' said Paul Cook, General Manager of Irvine Ranch Water District. 'SB 72 represents a critical step toward aligning regional efforts with a broader, coordinated vision—ensuring that communities across California are better equipped to address ongoing and future water supply challenges.'
Last year, Senator Caballero authored a similar bill that enjoyed unanimous support from the Legislature in both houses but was vetoed by Governor Newsom due to budget concerns and a budget deficit. SB 72 includes many of the same provisions and with a better budget year projected and increased pressure from climate driven wildfires, the coalition is optimistic that the bill can generate unanimous legislative support again and get a signature from Governor Newsom.
Co-sponsors of SB 72 include the California Municipal Utilities Association (CMUA), the California State Association of Counties (CSAC), and the California Council for Environmental and Economic Balance (CCEEB).
To read the newest research, Inaction's Economic Cost for California's Water Supply Challenges, click here.
To learn more about SB 72, visit the state's Legislative Bill Information portal.
About CA Water For All
CA Water For All is a statewide effort seeking to educate policymakers on the urgent need for a legislative solution to address California's ongoing water supply challenges. The effort is focused on bringing together the water community, policymakers, and stakeholders to collaborate on ensuring Californians have a sustainable and reliable water supply for all beneficial uses now and for future generations. To learn more or become a supporter, visit www.CaWaterForAll.com.
Media Contact
Jenny Dudikoff
[email protected]
###
SOURCE: CA Water For All
Copyright 2025 EZ Newswire
https://app.eznewswire.com/news/new-research-shows-billions-in-economic-risk-from-continued-state-inaction-on-water-supply
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
12 minutes ago
- Yahoo
Asimily Adds Enhanced IoT Password Management and Device Patching to Its Comprehensive Security Platform
SUNNYVALE, Calif., July 28, 2025 (GLOBE NEWSWIRE) -- Asimily, the only complete IoT, OT, and IoMT Risk Mitigation Platform, today announced the release of several new innovative features designed to help organizations across all industries efficiently secure and manage IoT devices while continuing down its path of cybersecurity innovation. These features are: IoT Password Management significantly simplifies the execution of password best practices across devices from multiple manufacturers. IoT Patching offers a 200% increase in supported manufacturers whose devices can now be automatically updated by Asimily. An intuitive new user interface designed for speed and efficiency, particularly for busy security and IT teams. 'Organizations with device fleets have always struggled to keep them updated. Unlike servers and operating systems, there is no streamlined process owned by the software manufacturer for IoT. This has always forced organizations to devote significant time and money to this essential line of defense,' said Shankar Somasundaram, CEO of Asimily. 'With our new IoT Management module and its Password Management and Patching capabilities, devices get automatically and fully updated faster with far less time and effort, helping prevent successful attacks from establishing a foothold within a company's networks.' IoT devices, such as printers, IP cameras, teleconference devices and network access points, are increasingly common targets for cyberattacks. Securing and managing IoT fleets requires the right software, processes, and skilled personnel to balance operational functionality and security. These features join the Asimily platform as crucial components, purpose-built to address the unique challenges associated with IoT Unauthorized Access with IoT Password Management Under the IoT Management module, Asimily has added IoT Password Management. This feature helps organizations enforce stronger credential policies and reduce the risk of unauthorized access to critical IoT infrastructure. It makes organizational adherence to best practices – strong passwords, no re-use – much easier while still allowing devices to operate with minimal interruption. Asimily's IoT Patching and IoT Password Management work together to prevent unauthorized access, allowing patching to be performed with a click, according to a schedule, or automatically. Increased Manufacturer Support for IoT Management Asimily has expanded its manufacturer support for IoT Management. This broader support ensures that even more devices can be automatically patched with Asimily, enabling better security for organizations. As businesses across industries continue to adopt new IoT devices, the expansion of this feature enables organizations to confidently lean into IoT while scaling security practices as their fleet grows. Since the initial launch of IoT Patching in March, 2025, the number of supported vendors has doubled, making thousands more customer devices easily updatable. Asimily is on track to increase the number of supported vendors by 400% within a year, dramatically expanding its direct-patching coverage. New User Interface Asimily recently refreshed its user interface to simplify adoption, organize crucial features around common workflows, reduce friction to accomplish critical risk mitigation tasks, and support a best-in-class user experience. Driven by extensive research and testing, the new interface reinforces Asimily's commitment to innovation and enables users to take decisive action across IoT, OT, and IoMT infrastructure. Ready to Strengthen Your IoT Security? See how Asimily's new capabilities make device management faster, safer, and easier than ever here. About Asimily Asimily has built an industry-leading risk management platform that secures IoT devices for organizations in healthcare, manufacturing, higher education, government, life sciences, retail, and finance. With the most extensive knowledge base of IoT and security protocols, Asimily inventories and classifies every device across organizations, both connected and standalone. Because risk assessment—and threats—are not a static target, Asimily monitors organizations' devices, detects anomalous behavior, and alerts operators to remediate any identified anomalies. With secure IoT devices and equipment, Asimily customers know their business-critical devices and data are safe. For more information on Asimily, visit Asimily ContactKyle Petersonkyle@ A photo accompanying this announcement is available at
Yahoo
12 minutes ago
- Yahoo
Rare Earth Magnets Market Report 2026-2036, with Detailed Analysis of 29 Leading Companies Across the Rare Earth Magnet Value Chain
In 2025, the rare earth magnet market faces unprecedented pressures due to geopolitical tensions, supply chain disruptions, and soaring demand from emerging technologies such as electric vehicles and robotics. China's export controls have particularly impacted industries like defense and Tesla's humanoid robots, causing significant ripple effects worldwide. The U.S.'s strategic interventions, including a $400 million investment in MP Materials and Apple's $500 million recycling partnership, highlight efforts to lessen dependency on Chinese exports. The demand for rare earth magnets, valued at $19 billion, continues to grow, underscoring the necessity for alternative technologies and robust domestic supply chains. The report examines the entire supply chain, from mining to recycling, and profiles key industry players. Dublin, July 28, 2025 (GLOBE NEWSWIRE) -- The "Global Rare Earth Magnets Market 2026-2036" report has been added to offering. The rare earth magnet market stands at a critical juncture in 2025, shaped by unprecedented geopolitical tensions, supply chain disruptions, and explosive demand growth from emerging technologies. The industry's strategic importance has become paramount as governments and corporations recognize these materials as essential infrastructure for the global energy transition and technological advancement. The most significant recent development has been China's implementation of export controls on rare earth magnets beginning in April 2025, which triggered immediate supply chain disruptions across multiple industries. China's rare earth magnet exports to the United States experienced dramatic volatility, with shipments initially halted before surging 660% in June 2025 following trade negotiations. This rebound, while substantial, still leaves overall 2025 exports trailing previous year levels, demonstrating the fragility of current supply arrangements. The export restrictions particularly impacted critical applications including defense systems, electric vehicles, and emerging technologies like Tesla's Optimus humanoid robots. Ford halted production at its Chicago plant due to magnet shortages, while companies across industries depleted stockpiles while scrambling for alternative sources. Despite a temporary trade framework announced in June 2025, implementation remains problematic with companies facing ongoing uncertainty about future supply availability. The crisis has accelerated fundamental restructuring of global rare earth magnet supply chains. The U.S. Department of Defense's $400 million investment in MP Materials represents the largest government intervention in the sector, aimed at creating domestic magnet production capabilities. MP Materials has strategically halted all rare earth exports to China as of April 2025, redirecting focus toward domestic processing and magnet manufacturing at its Mountain Pass facility. Apple's $500 million partnership with MP Materials for recycling facility development exemplifies industry efforts to build resilient domestic supply chains. These initiatives reflect growing recognition that supply chain diversification requires comprehensive investment across the entire value chain, from mining through final magnet production. However, analysts warn that developing complete alternatives to Chinese capabilities will require years rather than months, given the complex separation and processing technologies involved. Market fundamentals remain exceptionally strong despite supply disruptions. Global rare earth magnet demand approaches 385,000 tonnes annually in 2025, valued at approximately $19 billion, with compound annual growth of 7.8% driven primarily by automotive electrification and renewable energy deployment. Emerging applications promise even more dramatic growth. Robotics, currently a small demand category, is forecast to become the single largest driver of neodymium-iron-boron (NdFeB) magnet consumption by 2040, driven by professional service robots in manufacturing, hospitality, and transportation. The humanoid robotics sector alone could require massive magnet quantities as production scales toward potential deployment of billions of units. Rising costs and supply uncertainty are driving intensive research into alternative magnet technologies. Cerium-based formulations are gaining attention as substitutes for dysprosium-enhanced magnets, with cerium offering advantages as a light rare earth element avoiding current export restrictions. Companies like Volkswagen's Scout Motors are exploring magnet-free motor designs, while automakers broadly investigate reduced-magnet architectures. However, these alternatives often involve performance trade-offs that limit applicability in high-performance applications. The concept of "demand destruction" through technological substitution represents a long-term market risk, but near-term demand growth from electrification continues to outpace substitution efforts. The rare earth magnet market's evolution represents a fundamental shift from commodity trading toward strategic resource management, with profound implications for global technology deployment, national security, and the pace of energy transition. Success in navigating these challenges will determine which nations and companies maintain technological leadership in the emerging clean energy economy. The Global Rare Earth Magnets Market 2026-2036 report provides the most comprehensive analysis of the rapidly evolving rare earth permanent magnet industry, delivering critical insights into market dynamics, supply chain vulnerabilities, technological innovations, and strategic opportunities across key application sectors. This authoritative 270-page plus report combines deep technical expertise with extensive market research to deliver actionable intelligence for stakeholders navigating the complex rare earth magnet ecosystem. As global demand for high-performance magnetic materials accelerates driven by electrification megatrends, renewable energy deployment, and emerging technologies including humanoid robotics, the rare earth magnet market faces unprecedented supply chain challenges and strategic realignment. With China's dominant position in production and processing creating geopolitical risks, alternative supply chain development has become a critical priority for governments and corporations worldwide. This report examines the complete rare earth magnet value chain from mining and separation through metallization, manufacturing, and recycling, providing detailed analysis of production capacity forecasts, demand projections by application segment, technological innovation pathways, and strategic recommendations for market participants. The analysis covers neodymium-iron-boron (NdFeB) and samarium-cobalt (SmCo) permanent magnet technologies across automotive, wind energy, consumer electronics, data centers, robotics, medical imaging, aerospace, marine, and industrial automation applications. Report contents include: Critical materials classification and rare earth magnet technology fundamentals Global market sizing, demand projections, and geographic distribution analysis Supply chain architecture assessment and strategic implications Regulatory environment evolution and policy framework impact Supply Chain and Value Chain Analysis Complete value chain structure from mining through magnet manufacturing Geographic production stage distribution and regional cluster development Market entry barriers, implementation challenges, and competitive dynamics 2025 export restriction impact assessment on dysprosium, terbium, and NdFeB alloys Rare Earth Mining and Production Global mining landscape with detailed regional development analysis North American, Australian, European, South American, and African project pipelines Hard rock versus ionic clay deposit comparison and processing technologies Mining economics, financial modelling, and resource discovery lifecycle analysis Processing and Separation Technologies Comprehensive processing technology comparison including hydrometallurgical and bioleaching methods Solvent extraction, chromatography, and multi-line separation system analysis Global processing capacity forecasts and geographic distribution projections Technology innovation roadmap and development priorities Magnet Manufacturing and Technology Metallization process fundamentals and global capacity control analysis NdFeB and SmCo magnet technology comparison and performance characteristics Sintered and bonded magnet manufacturing processes and innovation developments Grade classification, performance specifications, and cost structure analysis Application Market Analysis Electric vehicle and e-mobility market demand forecasts with motor technology assessment Wind energy sector analysis including turbine technology and magnet requirements Consumer electronics, data centers, and hard disk drive market dynamics Robotics and humanoid robot technology platform analysis Medical imaging, aerospace, marine, and industrial automation applications Recycling Technologies and Circular Economy Short-loop and long-loop recycling technology comparison and performance analysis Feedstock sources, pre-processing challenges, and automation integration Market barriers assessment and industry outlook through 2036 Value chain evolution and circular supply chain development Market Forecasts and Strategic Analysis Production capacity forecasts by geographic region (2026-2036) Demand projections by application segments and materials Supply-demand balance analysis and shortage risk assessment Revenue forecasts, investment opportunities, and risk assessment framework Technology innovation roadmap and competitive dynamics evolution Company Profiles and Competitive Intelligence Detailed analysis of 29 leading companies across the rare earth magnet value chain Strategic positioning, technology focus, and market development initiatives Investment activities, partnership strategies, and capacity expansion plans The report provides comprehensive profiles of 29 leading companies across the rare earth magnet value chain including: Arafura Resources Limited Australian Strategic Materials Ltd (ASM) Carester (Caremag) Cyclic Materials Energy Fuels Inc. Hastings Technology Metals Limited HyProMag Ionic Rare Earths Ionic Technologies JL Mag Lynas Rare Earths Limited MagREEsource Materials Nexus Metalysis MP Materials Corporation Neo Performance Materials Niron Magnetics and more. These profiles examine strategic positioning, technology capabilities, production capacity, market focus, and development initiatives across mining, processing, manufacturing, and recycling operations. For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Connectez-vous pour accéder à votre portefeuille
Yahoo
12 minutes ago
- Yahoo
Trump looms large over a Fed likely to again defy his call for cuts
President Trump will loom large over the Federal Reserve's policy meeting this week, even if the central bank does what the market expects and keeps interest rates on hold. Trump and other top White House officials have been hammering Fed Chair Jerome Powell for months over his wait-and-see rate stance and his insistence that more time is needed to assess how the president's tariffs will affect the path of inflation. The president took that message directly to the Fed last Thursday as he toured a $2.5 billion renovation of the central bank's headquarters and confronted Powell in person while the two argued in front of reporters over the true costs of the project. "I just want to see one thing happen, very simple: Interest rates have to come down," the president told reporters. Traders widely expect the Fed's Federal Open Market Committee to defy Trump and once again keep rates unchanged this Wednesday, as they have for every other meeting so far in 2025. The market expects the first cut of 2025 to happen on Sept. 17, the third-to-last meeting of the year. But at least two of Powell's colleagues are warming to Trump's near-term rate cut call, which could produce some disagreement this week behind closed doors in Washington. One Fed governor, Christoper Waller, has already hinted that he may publicly dissent Wednesday if his colleagues vote to keep rates unchanged. His opinion is that any inflation from Trump's tariffs will prove to be temporary, and he's concerned that the labor market may soon worsen. But many other Fed officials have backed Powell in his view that more time is needed to assess the impact of Trump's tariffs on inflation. They also note that the labor market is holding up, removing any urgency to act in the way that Trump wants. Read more: How the Fed rate decision affects your bank accounts, loans, credit cards, and investments "This is a campaign of undermining the chairman's credibility and really trying to undermine his public support in the face of what I think is the real objective, and that is to get a lower rate environment in place," former Kansas City Fed president Esther George said. A Powell press conference following the meeting on Wednesday gives the Fed chair a new chance to respond to the White House's escalating pressure campaign and mounting questions about the $2.5 billion renovation of two Fed buildings along the National Mall. Trump considered firing Powell in recent weeks but has now appeared to back away from doing so, telling reporters this past week that "he is going to be out pretty soon anyway" — a reference to the fact that Powell's term as chair is up in May. While touring the Fed's construction site on Thursday, Trump said of firing Powell: "To do that is a big move, and I just don't think it's necessary." Read more: How much control does the president have over the Fed and interest rates? New headaches But that doesn't mean the White House is going to let up on Powell. Treasury Secretary Scott Bessent this past week called for a review of the central bank's $2.5 billion project and an "exhaustive internal review' of its non-monetary policy operations. He argued that "significant mission creep and institutional growth have taken the Fed into areas that potentially jeopardize the independence of its core monetary policy mission." The Fed also got another new headache last week when a money manager — and Trump ally who recently served as an adviser to the Department of Government Efficiency — filed a lawsuit arguing that the central bank is violating a 1976 federal law by keeping its policy meetings behind closed doors. That money manager, Azoria Capital, is asking for a Washington, D.C., federal court to issue a temporary restraining order compelling the FOMC to open its deliberations to the public this week. Some on Capitol Hill are also getting louder about more scrutiny of the Fed. Rep. Dan Meuser of Pennsylvania, a subcommittee chair on the House Financial Services Committee, is reportedly moving forward with a congressional investigation of the Fed, according to PunchBowl News, even as many of his Senate colleagues have shied away from that idea. Rep. Anna Paulina Luna of Florida, another Trump ally, formally requested that the DOJ investigate Powell for perjury over June comments about the renovations, although that is seen as a long shot at best. House Speaker Mike Johnson said in an interview with Bloomberg reporters and editors last week that he is "disenchanted" with Powell and is even open to modifying the 1913 act that created the Fed. That would be a major change, but it is not expected to come before Congress in the near term, as the House of Representatives went home Wednesday evening for a recess that is scheduled to last for the rest of the summer. Powell has repeatedly stated that he does not intend to leave as chair until his term is up, that his removal is "not permitted by law," and that he was honest and transparent about the Fed's construction project while testifying before Senate lawmakers on June 25. In a July 17 letter to White House budget director Russ Vought, Powell wrote that "we take seriously the responsibility to be good stewards of public resources" and offered a point-by-point response to Vought's concerns about cost overruns and certain design elements. Read more: What experts say about the possibility of additional rate cuts 'I do think it's damaging' Trump and his allies have taken to several new lines of attack against Powell, even beyond the building renovation, as they argue for rates to be as many as three percentage points lower. They cite what they predict will be savings on US debt if the rate is lower, as well as how a lower rate would make borrowing for a home less expensive in the US. Trump has even hinted that he has more than just Powell to blame for the fact that rates have remained unchanged since he took office. "The Board should act, but they don't have the Courage to do so!" Trump wrote on his social media platform this past week, referring to the larger Fed Board of Governors on which Powell serves. StoneX senior adviser Jon Hilsenrath told Yahoo Finance that he expects Trump's attacks to eventually extend to the regional Fed presidents based around the country. They have rotating positions on the Fed body that makes the final call on rates. The president does not appoint the regional Fed bosses, who are instead chosen by banks in those Fed districts. One of them, Chicago Fed president Austan Goolsbee, defended Powell in a July 18 interview with Yahoo Finance, calling the Fed chair a "totally honorable guy." He also expressed concerns about Fed independence. "It pains me to hear people actively discussing whether the central bank should be independent. There's nothing good can come of discussion like that." George, the former Kansas City Fed president, said of the president's pressure campaign targeting building renovations: "I do think it's damaging." "It's when we undermine institutions and create suspicion in the public that something is wrong here, I think credibility suffers," she said. "This is a time when the Fed needs its independence," George added. "It is a time when, yes, lower rates would help the federal government, but we know countries that have gone down that path, and we know in this country going down that path does not produce good outcomes in the long term." Last Thursday, though, Trump sounded confident during his tour of the Fed's headquarters that Powell would see things his way. "I think he's going to do the right thing,' the president said. "Everybody knows what the right thing is.' Click here for in-depth analysis of the latest stock market news and events moving stock prices
