This paper will take a look at the inherent value of water and discuss how its scarcity creates both international and inter-regional conflict. A simple quantification of the world's fresh water stocks provides clear proof that it is surely a scarce commodity. Applying this to a geo-political approach, and using the Middle East as a case in point, it soon becomes clear that water is a strategic commodity that ignites political tension. A popular Israeli phrase highlights both the logic and difficulties of this approach: 'If there is political will for peace, water will not be a hindrance. If you want reasons to fight, water will give you ample opportunities.' 8 pgs. 16 f/c. 7b.