Either that or giving farmers a subsidy for growing crops that require less water. Our huge Almond industry is a giant water-guzzler.
The Colorado river is also running dry, sometimes it does not even make it to the ocean, which is a basic sign of environmental health -- when rivers run dry significant changes occur rapidly. The Rockies which feed this river has had lower annual snow pack than expected for many years running now.
New agricultural land in the US will be coming from the north as the climate continues to become dryer and warmer, already Canadian farmers have experienced a renewed vigor and development. Unfortunately there will likely be some land and water use competition between fracking as well as the Canadian Boreal forest, one of the largest and most pristine wildernesses in the north american continent.