Regulatory Alchemy: How the Water Cycle Becomes Capital in the California Desert

Abstract

A proposed project will take water from an aquifer in the California desert to the coast. Lacking final approvals more than 30 years after it started, the project remains a plan despite sizeable opposition. What is its secret? In this paper, I examine the imaginaries of the underground aquifer underneath the lands of Cadiz Inc, the project proponent. While local theories insist the company is at the centre of a Chinatown conspiracy, I argue that the company stays alive through regulatory alchemy, a term that reveals the magic at the heart of scientific and regulatory approval processes. I examine narratives of the aquifer in environmental compliance and financial reporting in order to reveal how regulatory processes become the conditions of profit-making, building on debates in critical legal geography and political ecology.