Arizona Limits Construction Around Phoenix as Its Water Supply Dwindles
In what could be a glimpse of the future as climate change batters the West, officials ruled there’s not enough groundwater .
Arizona has determined that there is not enough groundwater for all of the housing construction that has already been approved in the Phoenix area, and will stop developers from building some new subdivisions, a sign of looming trouble in the West and other places where overuse, drought and climate change are straining water supplies.
The decision by state officials very likely means the beginning of the end to the explosive development that has made the Phoenix area the fastest growing metropolitan region in the country.
Read more:
https://www.nytimes.com/2023/06/01/climate/arizona-phoenix-permits-housing-water.html
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Both in terms of resource/energy extraction, and population growth.
It's entirely a house of cards that collapses without it. And that's because it's massively leveraged through debt, which in turn, depends on growth.
Not saying that's how it SHOULD be, but just how it is 
