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Water Prof. Mike Young Research Chair, Water Economics and Management The University of Adelaide Some Like it Hot, Renmark, 6th November 2008.

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Presentation on theme: "Water Prof. Mike Young Research Chair, Water Economics and Management The University of Adelaide Some Like it Hot, Renmark, 6th November 2008."— Presentation transcript:

1 Water Prof. Mike Young Research Chair, Water Economics and Management The University of Adelaide Some Like it Hot, Renmark, 6th November 2008

2 Murray River at Wentworth, NSW during 1914 drought
(Photo courtesy of the State Library of South Australia)

3 Future-proofing the Basin www.myoung.net.au
A sustainable sharing system for ground & surface water Put all states under the same inflow sharing regime 100% carry over of all water Require off-set of all land use change that erodes entitlement reliability (forests, dams, SIS) 5. An independent authority making allocations to shareholders 6. If still dry, review system configuration & size from top to bottom 7. Use the $5 billion on offer to restructure the industry quickly

4 A sharing regime or a cap?
Volume of Water in the System

5 2014 Re-live from 1938 2007 is the blue year
2014 is when it gets wet again Run from 1938

6 With half as much water Users Users Environment Environment River Flow

7 Total River Murray System Inflows (including Darling River)
Long drys Total River Murray System Inflows (including Darling River) DRY WET 8 yrs 12 yrs 52 yrs

8 Adverse climate change
In Mediterranean climates, a 20% decline in mean rainfall results in around a 60% decline in mean storage inflow Mean supply ,000 River & Storage Evap 2,000 Flow to sea ,000 Deliverable water ,000 Environment Use 1,500 Consumptive Use 4,500 Mean supply ,000 River & Storage Evap 2,000 Flow to sea ,000 Deliverable water Environment Use 0 Consumptive Use 0

9 Is this ground or surface water?
Source: Rick Evans

10 Accounting for Forestry
Trees Grass 250 mm = 2.5 ML/ha/yr @ $3000 /ML * 0.80% = $6000/ha

11 The state of the system

12 Monthly flows past Euston
9,000 8,000 7,000 6,000 Extensive overbank flow occurs above this line 5,000 4,000 3,000 2,000 1,000 A decade without water over bank

13 River Murray Active Storage
Active storage Average storage Maximum active storage

14 Cumulative System Inflows for selected years
16,000 2006/ / /09 Average Projected 14,000 12,000 10,000 8,000 6,000 4,000 2,000

15 The next challenges

16 The next challenges Backing the Murray Darling Basin Authority
Murray Darling Basin Authority and a new Basin Plan Developing a Basin Plan that has climate and accounting integrity A robust sharing regime Securing an environmental share in a timely manner Combine infrastructure and acquisition money ($3.1b is not enough) Expedite expenditure Reconfiguring the River, its lakes and wetlands What do we give up? How clever can we be? Removing all barriers to trade and rationalising infrastructure investment

17 Download our reports and subscribe to droplets at www.myoung.net.au
Contact: Prof Mike Young Water Economics and Management Phone: Mobile:

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