Is water the new oil? Population growth and agricultural demand, combined with aging infrastructure and waste, have produced water scarcity in many countries. Prices are rising, and the lack of a dependable water supply is a massive health and economic issue. So how do we fix our water quality and management problems? That’s the question Bloomberg Businessweek Chairman Norman Pearlstine put to our panel: Ahmet Bozer, President, Coca-Cola International; Jae So, Manager, World Bank Water and Sanitation Program; Carlos Riva, CEO, Poseidon Water; Thomas Powers, Commissioner of Water Management, Chicago; and Jeff Sterba, President and CEO, American Water. Their conversation has been condensed and edited.