In National Audubon Society v. Superior Court, the California Supreme Court held for the first time that the public trust doctrine applies in the water law context, and thus potentially limits the rights of water users when they divert or extract water in a way that may impair public trust values in source streams. This presentation will discuss the National Audubon decision and explain why the California courts may not have applied the National Audubon Society as an actual limitation on water rights.