Texans believe they own the water beneath their land and can freely sell or lease their water rights, but a patchwork of Groundwater Conservation Districts (GCDs) restrict such transactions. As a result, groundwater rights have become a phantom. Regulatory changes are needed that respect the rights of property owners and use market forces to promote the prudent best use of Texas’ groundwater resources.
Beckermann, Wayne R.; Parish, Mason Riley (2016). Phantom Capital: How Regulation Weakens Texas Groundwater Resources. Mosbacher Institute for Trade, Economics & Public Policy. Available electronically from http://hdl.handle.net/1969.1/158266.
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