Current US drought conditions for all states (click on your region, and then on your state to see more granular information): US Drought Monitor. This is from the USDA and the University of Nevada Lincoln, and the data on the web site is updated every Thursday.
Also, The Best Reporting on California’s Drought, from ProPublica.
On the answers side, an article on states experiments with leasing water rights from farmers, also from ProPublica. And in the same vein, the Aussies' (surprisingly functional) answer to this problem is examined: A Surprising Lesson from Australia's Drought: Politics Matter at waterdeeply.org.
The article that stirred the most emotion in me was the one under "Best Reporting" above that took aim at California's almond and pistachio industries. In a nutshell

Fun facts to put this issue in perspective: it takes approximately one gallon of water to produce one almond, and California currently produces 80% of the world's almonds. (Source: Google) Almond growers, unsurprisingly, feel like scapegoats, and vehemently dispute those numbers.
I have competing libertarian and communitarian impulses on this issue. Probably if I were the farmer I would voluntarily plant something more suitable... from my armchair quarterback perspective this looks best anyway. But I strongly object to anyone being ordered to plant this not that on his own land as long as the crop is a legal one. Perhaps an economic incentive to switch for these farmers? Although this will probably benefit other states' and countries' growers the most no matter what happens in CA. There's no easy fix for any of this.
I keep thinking that someday I'll design and build a small/tiny house that primarily uses collected rainwater, but that presupposes rain. My options out west appear limited to nonexistent.