(Photo via ProPublica.org)

Screenshot from the ProPublica piece Liquid Assets by Abrahm Lustgarten.

Even with expectations for El Nino to drop more water in the West, the drought’s impact is being felt in a deep way in Arizona, California and Nevada.

In a new ProPublica piece called Liquid Assets, reporter Abrahm Lustgarten focuses on hedge fund manager Disque Deane Jr.’s efforts to make water a commodity as a way to lessen waste and increase the price.