Water . . . more precious than gold and oil, more crucial to the health and well-being of the human race than either and evaporating in front of our very eyes.

Believe it or not, while water shortages in under-developed countries have been publicized, the U.S. government’s report that a majority of states will face crises of their own over the next decade has gone largely unnoticed. The highest risk states also happen to be the fastest growing: Florida, California, Arizona, Nevada, and Texas.

I’m not talking about Mother Nature-induced shortages, aka droughts. The problem with respect to water is that companies insist on using archaic technologies incapable of keeping pace with the growing demand for a clean, potable final product.

"Clean, fresh water is not only the most vital commodity — it is also the most undervalued," said Bernard Savaiko, an economist at the New York Board of Trade. Americans spend “billions of dollars” annually on bottled water and use 408 billion gallons of water every day, according to the U.S. Geological Survey.

But with 300 million Americans and 6.5 billion people worldwide, the global water supply is tightening, potentially creating a sticky situation where water could be, as one Wall Street analyst, puts it “the oil market of the future.”

In fact, while water and oil generally don’t mix, the consumption rates of both are very similar. According to the United Nations, global water consumption is doubling every 20 years at a time when the world’s population — in particular China and India — is expanding.

The Chinese government reports almost 90% of China’s water supplies are polluted, and massive infrastructure investment is needed to keep up with its growing demand.

The one bright spot is that while China’s population is three to four times larger than that of the U.S., Chinese households currently consume only about 20% of the amount of their American counterparts. However, you can bet that as emerging countries expand, demand for clean water will continue to grow — at home and in skyscrapers.

Most of the water consumed in the U.S. is made available through state-regulated utility companies that put caps on profits and raise rates infrequently. Demand will continue to outstrip supply and raise the likelihood of a water shortage in America until utilities step up to the plate, loosen the purse strings and modernize their technology.

Prepare yourself now.