PARENT MUST BE VOTED HIGHER!!
So often people say this kind of crap about water and the **ENTIRE** point is water that is usable! It takes energy to make random source of water into water that we would call "drinking" water or water we would give to cattle, etc. Water doesn't just magically revert back into "usable" water once it is consumed. Granted that right now the major pusher for recycling water is the sun energy via evaporation. However, then we're at the whims of where the water falls and when. So we either have to get better at using the water when it randomly hits the ground (large collection pits and storage systems), or we need to get vastly better at moving water that's already hit the ground (national pipe work for moving water all over the US), or some combination of both.
Same problem can be said for wind power, we're just hoping that the wind is randomly blowing in some section of the planet we have mills in, but the plus side of that is the energy we generate from the random spots wind can be easily moved around on power lines. There isn't an easy moving around for water at the current moment. So while yes the absolute amount of water on the planet hasn't changed, the amount of energy it will take to get it back to the form it came from is high, but we don't notice it since we mostly rely on the free energy from the sun to take care of it and hope all of the plus and negatives just wash out in the end. At the rate aquifers are being drained versus the rate at which they can be refilled by nature, were in serious negative territory. Nature just doesn't move as fast as industry can produce. The reason we still stay afloat is because nature had a few million years on us to build those reserves.
Well, in case of meat production — or indeed any other Earth-bound activity — no water is lost. Zero. Nada. So, what is the quoted statement supposed to mean?
We are never going to run out of water in an absolute sense, that's just stupid. But we will run out of economically viable water, that's the entire point. When water becomes too expensive to actually buy/refine/return back into a usable form/whatever, it won't matter how much absolute volume of water is on this planet, you will have no access to it unless you have enough money for it. The same is true for crude oil. This planet will never have zero mL of oil on it, ever. Thinking otherwise is ignoring how absolutely massive the amount of crude oil on this planet is. However, we are quickly running low on economically viable crude oil. At some point, oil will become so expensive that the majority of people will choose another option or they'll be up a shit creek without a paddle. The entire point of anything is to try and get ahead of the curve so you don't find yourself on that creek.
Yes, parent said all of this already in their comment, but I feel that if it isn't S-P-E-L-L-E-D out, that some folks might not get it. We're past the point in which nature can resupply water sources as fast as we use them. We either need to resupply those sources or we need to get better at using the sources, because not doing either of those is slowly going to increase the price of everything that depends on it and for water that's a lot of things.