Water security under severe drought and climate change: Disparate impacts of the recent severe drought on environmental flows and water supplies in Central California

•Severe drought reduced water availability by 30–80% compared to moderate drought.•Measurable inequities in the distribution of drought impacts in Tuolumne watershed.•Lower watershed and ecologic users bore the brunt of drought impacts.•Significant increases in summer stream temperatures and salmon population declines.•Expected climate extremes necessitate rethinking of drought management.