'Water wolf' could cost Texas billions

The Houston Chronicle reports:

Reliable sources of clean water are the key to a successful economic future for Texas and without them the state and businesses could suffer billions in losses. That was the dire message in a recent report from the office of state comptroller Susan Combs, a longtime West Texas rancher familiar with the agricultural difficulties that come from too little water. "The water wolf is lurking right outside the door," Combs told The Associated Press. "This could actually cost the state a whole lot of money." In the report, Liquid Assets: The State of Texas' Water Resources, Combs' office projected that insufficient water supplies could cost Texans about $9 billion next year and more than $98 billion by 2060. The state also stands to lose tax revenues — about $466 million next year and more than $5 billion by 2060 — if its water needs are not met, according to the report. Among the reasons cited were Texas' rapidly growing population and ongoing drought across much of the state...