Abnormal dry with water curbs: "Just below 92 per cent of NSW is now drought-declared and just over 60 per cent of Queensland. And water restrictions are in force in most regions of the country. Extensive areas of coastal Western Australia, including Perth, have experienced their warmest and driest winters on record," James said.
Rain deficit matches 1905 shortfall: "And eastern Australia has experienced five consecutive years of below-normal rainfall. The last time there were consistently dry conditions was 76 years ago from 1925-1929. Going further back, the current accumulated rainfall deficit of 431 millimetres (eight months of normal rainfall) was equalled only a century ago, in 1905.
Indications of El Nino: "But population demands are far higher now than 100 years ago. Dam storage levels have kept falling and are historically low. In fact, dam storage levels in Perth and Brisbane are hovering around 30 per cent And now forecasters have indicated that a new El Nino weather event is under way, an event associated in the past with serious drought in Australia.
Pulling together is best hope: "A worsening drought would have a major effect on the overall economy, regional towns and a raft of industry sectors. A severe drought could wipe 0.8 percentage points off Australia's growth rate. Rural exports would slump, farm incomes contract, and food, transport, retail and financial firms would have sharply lower revenues. The greatest potential for progress will occur when state and federal governments use vision and act in concert."
The Australian Financial Review, 27/9/2006, p. 59
Source: Erisk Net
