This article gives the cheery news — the US is in its best shape — in terms of precipitation — since 1999.

Two troubles remain:

1. We still need to recharge overdrafted aquifers — some will need years or decades to recover.
2. There is no sign of demand control. Even if supply goes to “normal” — and I am not betting on that with climate change — demand can still outpace it, leading to shortages of the manmade variety.

Bottom Line: We’re not back to the good old days, but our institutions for managing water are. Time to reform, to improve the reliability into the current system. (Yes, markets, prices, etc…)