I'm seeing a lot of stories and op/eds about how CA needs more storage, or more water, or less demand, or fewer farmers or dead fish.
What CA needs is a system for balancing supply (drought to flood) and demand (people to farms to fish).
That system is known as a market.
If you want to know how it works, check out the gas station on the corner, then imagine the supply chain and complicated set of demands that interact at that point.
A water market would be easier to run, but it would requires that a whole bunch of special interests (from politicians to DWR to enviros to subsidized farmers) face the real supply and demand of water.
Scary, sure, but a fact's a fact.