I call bullshit & shenanigans on this. Water is not money. A certain grade of crude oil can be fungible, but what about after it’s used?
There are many types of water: potable clean water being essential to human existence, but other less pure types can be used in agriculture and industrial applications.
Once water is used, or before it can be reused, processing and transportation is necessary, and that represents significant cost. The cost of processing or transporting money is negligible enough to make it really fungible and usable. Water is heavy, wet, and more volatile than that quarter in your pocket!
The existence of various grades of a commodity says nothing about whether that commodity at those grades is fungible. Mostly it implies the opposite, in fact.
But you can't then say unqualified that "water is fungible". Sewer water is not fungible with potable water. Greywater is not fungible with distilled or RO water. I'm not convinced that sewer water is fungible at all, considering its unknown content!
I call bullshit & shenanigans on this. Water is not money. A certain grade of crude oil can be fungible, but what about after it’s used?
There are many types of water: potable clean water being essential to human existence, but other less pure types can be used in agriculture and industrial applications.
Once water is used, or before it can be reused, processing and transportation is necessary, and that represents significant cost. The cost of processing or transporting money is negligible enough to make it really fungible and usable. Water is heavy, wet, and more volatile than that quarter in your pocket!