BANGALORE — Is water the next oil? Motives behind the question vary, depending on who asks the question. Those who see water as a future core commodity – therefore as profitable a prospect as oil – pose the question to create the right market conditions for water trade. Those who see the potential for conflict arising from scarcity compare diminishing freshwater to oil’s depleting reserves. Those who see an environmental threat from mismanagement of water see parallels with the abuse and waste of oil. So there are lessons to be learned from how we have managed oil on this planet over the past century and more. The oil crisis confronting the world today is much like the looming crisis in water, with depleting supplies, unequal distribution and access, and the inevitable specter of rising costs and increasing conflict around the sharing of this vital natural resource. As with oil, water exploitation raises an inter-generational debt that will be hard to repay. The uncontrolled and rapacious exploitation of oil has led to unintended consequences, and if we continue on a similar trajectory with water, the oil crisis will seem like the trailer of some horrible disaster movie. […]