Makhan Singh had farmed in California for more than two decades when, in 2017, he bought a 300-acre ranch in Madera County. About half the ranch was planted with almonds. The other half was bare. To qualify for a mortgage, Singh agreed to plant almonds on the rest of the land, taking on more debt to make the long-term investment in the new trees. He had little reason to doubt the business plan. Almond prices were high. And while the land was in a “white area,” entitled to no surface water from an irrigation district.