There is this a sort of enviro-socialist vision that everything would be better if everyone owned the world's natural resources. Here is what happens when "everyone" owns something, in this case underground water (via the Washington Post)
I am actually surprised some are doing as well as they are. I had always heard anecdotally that the Ogallala was falling steadily, but by this map it appears stable.
You could probably create the same map that looks even more dire for the stability of ocean fish populations, another resource with no property rights.