The attitude about California's ground water is, "Hey, they own the water based on the laws on the books, what can you do?" Much of the public would rather they not use all that water on almonds and alfalfa and whatnot, just to export elsewhere. Why can't the rest of the country grow that stuff? How can someone exclusively own the groundwater like that??
Whatever law that applies to Vinod Khosla should apply to those large water-wasting water-owners.
(And it follows that however dastardly Vinod Khosla may seem, the large water-owners in California are irrevocably screwing over California's future generations' water resources, and are thus in my book, much more worthy of scorn and "public trust doctrine" action.)