Gov. Jerry Brown formally proclaimed California in a drought Friday Jan. 17, 2014, saying the state is in the midst of perhaps its worst dry spell in a century and the conditions are putting residents and their property in “extreme peril.” (AP Photo/Rich Pedroncelli, File) ©AP Folsom Lake in California recedes in state’s worst dry spell in a century Water shortages have put the US oil and gas industry on a “collision course” with other users because of the large volumes needed for hydraulic fracturing , a group of leading investors has warned. Almost 40 per cent of the oil and gas wells drilled since 2011 are in areas of “extremely high” water stress, according to […]