Removing Barriers to Facilitate Efficient Water Markets in the Murray Darling Basin – A Case Study from Australia

Water markets have been seen as an effective way of addressing water scarcity and allocation issues. In this paper we discuss the role and characteristics of water markets in facilitating efficient water allocation. Administrative, regulatory and/or political barriers to effective functioning of water markets are reviewed with a focus on southern Murray-Darling Basin in Australia. A mathematical model is developed to estimate the costs of existing restrictions and the benefits from potential changes in the water markets (eg. removing barriers in temporary water market). The modelling results reveal that when expanding trade from intraregional only to interregional trade, mean annual net returns increased from $2,502 million to$2,590 million (i.e. an increase of $88 million). When the current volume restrictions, exchange rates, and trading charges are in place, mean annual net returns reduced from$2,590 million to $2,573 million (i.e. a reduction of$17 million). The exclusion of any state from the interstate water trading market imposes significant costs. If South Australia, New South Wales or Victoria withdraws from the market, it reduces net returns by $27 million,$31 million and $63 million, respectively, from water trading. In conclusion, the policy implications on strategies to removing market barriers are outlined to facilitate efficient and effective water trading.market barrier, opportunity cost, temporary water market, efficient water market, Australia

Impact of opioid-free analgesia on pain severity and patient satisfaction after discharge from surgery: multispecialty, prospective cohort study in 25 countries

Background: Balancing opioid stewardship and the need for adequate analgesia following discharge after surgery is challenging. This study aimed to compare the outcomes for patients discharged with opioid versus opioid-free analgesia after common surgical procedures.Methods: This international, multicentre, prospective cohort study collected data from patients undergoing common acute and elective general surgical, urological, gynaecological, and orthopaedic procedures. The primary outcomes were patient-reported time in severe pain measured on a numerical analogue scale from 0 to 100% and patient-reported satisfaction with pain relief during the first week following discharge. Data were collected by in-hospital chart review and patient telephone interview 1 week after discharge.Results: The study recruited 4273 patients from 144 centres in 25 countries; 1311 patients (30.7%) were prescribed opioid analgesia at discharge. Patients reported being in severe pain for 10 (i.q.r. 1-30)% of the first week after discharge and rated satisfaction with analgesia as 90 (i.q.r. 80-100) of 100. After adjustment for confounders, opioid analgesia on discharge was independently associated with increased pain severity (risk ratio 1.52, 95% c.i. 1.31 to 1.76; P < 0.001) and re-presentation to healthcare providers owing to side-effects of medication (OR 2.38, 95% c.i. 1.36 to 4.17; P = 0.004), but not with satisfaction with analgesia (beta coefficient 0.92, 95% c.i. -1.52 to 3.36; P = 0.468) compared with opioid-free analgesia. Although opioid prescribing varied greatly between high-income and low- and middle-income countries, patient-reported outcomes did not.Conclusion: Opioid analgesia prescription on surgical discharge is associated with a higher risk of re-presentation owing to side-effects of medication and increased patient-reported pain, but not with changes in patient-reported satisfaction. Opioid-free discharge analgesia should be adopted routinely

Global water crisis and future food security in an era of climate change

Food policy should serve humanity by advancing the humane goals of eradicating extreme poverty and hunger. However, these goals have recently been challenged by emerging forces including climate change, water scarcity, the energy crisis as well as the credit crisis. This paper analyses the overall role of these forces and population growth in redefining global food security. Specifically, global water supply and demand as well as the linkages between water supply and food security are examined. The analysis reveals that the water for food security situation is intricate and might get daunting if no action is taken. Investments are needed today for enhancing future food security; this requires action on several fronts, including tackling climate change, preserving land and conserving water, reducing the energy footprint in food systems, developing and adopting climate resilient varieties, modernising irrigation infrastructure, shoring up domestic food supplies, reforming international food trade, and responding to other global challenges.Climate resilient Energy crisis Credit crisis Irrigation Food trade Prices

Removing barriers to facilitate efficient water markets in the Murray-Darling Basin of Australia

We discuss the role and characteristics of water markets in Australia in facilitating efficient water allocation. Administrative, regulatory and/or political barriers to effective functioning of water markets are reviewed with a focus on the southern Murray-Darling Basin (MDB) region of Australia. A mathematical model is developed to estimate the costs of existing restrictions and the benefits from potential changes in water markets (e.g., removing barriers in temporary water markets). The modelling results reveal that expanding trade leads to an increase in mean annual net returns from AU $2502 million to AU$2590 million (i.e., an increase of AU $88 million). When the current volume restrictions, exchange rates, and trading charges are accounted for, mean annual net returns reduced from AU$2590 million to AU $2573 million (i.e., a reduction of AU$17 million). The exclusion of any of the three southern MDB states from the interstate water trading imposes significant costs. If South Australia, New South Wales or Victoria withdraws from the water market, net returns are reduced by AU $27 million, AU$31 million and $63 million, respectively. The paper outlines the policy implications of strategies to remove market barriers and to facilitate efficient and effective water trading.Market barrier Mathematical modelling Opportunity cost Temporary water market

Without water: The economics of supplying water to 5 million more Australians

The scenarios presented in this report should be used as a means to assist consideration of policy options not as predictions of what will happen. They should be seen as illustrations of what could happen. The ABS predicts Australia's population will increase by 5 million and reach 25 million people in 2032. This represents a 25% increase in the population of Australia. With 5 million more people and 15% less water in the Eastern States and South Australia, what will happen to the economy and how will this be reflected in the price of water?Mike D. Young, Wendy Proctor, M. Ejaz Qureshi and Glyn Wittwer

Sustainable irrigation: How did irrigated agriculture in Australia's Murray–Darling Basin adapt in the Millennium Drought?

The recent drought in south-eastern Australia saw the lowest inflows on record in the Murray–Darling Basin in 2006. As reservoirs were drawn down water availability for irrigation was cut. In 2007–2008 and 2008–2009, irrigators received about one third of their pre-drought allocations. Understanding how the irrigation sector adapted to less water will help planning for the next drought and a future in which irrigation water use will be reduced permanently in the basin. The aggregate responses that we report are consistent with reported data on strategies used by irrigators to adapt to less water, including water trading, input substitution, changes to crop mix, and improvements to technology leading to reduced water application rates and yield increases. These responses likely also provide some insight on how irrigators will adapt to future more permanent reductions in irrigation water and assist in the identification of constraints to adaption