The U.S. is hardly alone when it comes to drought.
A worldwide weather phenomenon threatens the future of water and food supplies, as well as the global economy, experts say. Colombia, Pakistan, Somalia, Australia, Guatemala, China, and Kenya are just a few of the other countries suffering severe drought conditions.
"The effect of droughts happen over time and aren't just a single event," said Lynn Wilson, academic chair at Kaplan University and an environmental researcher. "When it comes to food and having safe drinking water, water is not an unlimited resource, and we have to manage it better across the globe."
Will Sarni, who is director and practice leader in water strategy and sustainability at Deloitte Consulting, said the full economic effect from the current global drought is just taking shape. "We don't hear much about how water scarcity impacts where businesses locate," he said. "Water-rich states will be able to lure manufacturing and agriculture away from water-scarce nations. That can lead to limits in economic growth."