I guess I don't understand the difference between paying for "water-delivery-and-treatment-infrastructure-and-operational-costs", and paying for "water". I can't fufil these water futures by just transferring legal ownership of a piece of land (that I owned) that contains a saltwater lake.

Even after defining what the difference is... I'd be interested in understanding what makes trading in "water-delivery-and-treatment-infrastructure-and-operational-costs" OK, but trading in "water" not OK