Water vs. Oil
Let's contrast water to oil:
Water is abundant and easily found - Oil is much more scarce and underground
Water recycles itself - oil is non-renewable and destroyed by using it.
We've been running out of oil for 150 years - we just started running out of water
We are dependent on foreign sources of oil - we are water independent
... and yet, we still have plenty of oil.
Fresh water is constantly created in vast amounts evaporating off the oceans and raining back to earth - it's a relatively straight forward distribution issue, not a resource issue. If we're running out of one of the most abundant substances on the planet there can be only one explanation - the government is in charge of providing it.