People have been talking about this ever since (and likely before) T Boone Pickens stole the water in western TX.
Texas has uniquely dumb laws that let you suck up whatever water is underneath your land.
So if you own a couple acres on the edge of a giant underground reservoir that spans several counties, you are allowed to drain the entire reservoir from your property.
Texas tried to mitigate this by allowing for local water boards, but they get bullied/sued if they don't allow the resource extraction.
Read more here: http://www.mensjournal.com/magazine/print-view/who-stole-the-water-20140623