I didn't mean to single out almonds -- as you say, virtually all of California's agriculture is water-guzzling, and only sustainable because farms with seniority get substantial use-it-or-lose-it discounts on their water bills.
We need to end this across the board. If you can't produce something in the valley while paying a fair price for water, you shouldn't be producing it in the valley. Make something else, make it somewhere that's not drought-prone, or raise your prices to account for the water that goes into producing the product.
I totally agree about making price levels reflect true resource costs, ending bad incentivization systems, etc. (Meant to edit my first post to mention that, but got distracted).
We need to end this across the board. If you can't produce something in the valley while paying a fair price for water, you shouldn't be producing it in the valley. Make something else, make it somewhere that's not drought-prone, or raise your prices to account for the water that goes into producing the product.