Arizona’s water is running worryingly low. Amid the worst drought in more than a millennium, which has left communities across the state with barren wells, the state is depleting what remains of its precious groundwater. Much of it goes to private companies nearly free, including Saudi Arabia’s largest dairy company.Thanks to fresh scrutiny this year from state politicians, water activists and journalists, the Saudi agricultural giant Almarai has emerged as an unlikely antagonist in the water crisis. The company, through its subsidiary Fondomonte, has been buying and leasing land across western Arizona since 2014. This year The Arizona Republic published...