The world"s largest countries face future water crises, but Australia points the way forward in water property rights.

The main reason why there is a global water shortage is incompetent management, which causes total inflexibility in allocation--there is plenty of water, it's just used stupidly.

Alarmists have been crying wolf about water wars for years, but like many green exaggerations they have a kernel of truth.

Australia's water management is still leading the way, even in drought.