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Between 1995 and 2005, the government of Alberta undertook major reforms to the way water is governed in the arid southern part of the province. Among the most significant reforms was the imposition of moratoria on new water licenses, the introduction of a market for buying and selling existing water licenses, and the adoption of a "conservation holdback" mechanism for returning some licensed water to the environment.

In Water Policy Reform in Southern Alberta, B. Timothy Heinmiller looks at how and why these (and other) reforms were adopted after nearly a century of stasis...