"Water is one of the most precious of resources that continues to be the most mispriced," says Neil George.

In his top-notch blog advisory, Profits Hidden in the News, he explains, "Millions of Americans are drinking dangerous water from the tap." Here, the advisor looks at two ways to profit as this situation gains attention.

"The US Environmental Protection Agency has recently updated its data on US municipal water and, as with previous surveys and reports - the news is not good.

"In fact, for wide swaths of the US population - including those in the nation's capital - its flat out scary.

"First up - the EPA has identified that 23 million Americans are forced to drink water that is in violation of current EPA drinking water standards. Further, over 40% of Americans consume water from municipal systems that currently would be in violation of the Safe Drinking Water Act.

"To make the nation's water systems actually clean enough to drink from, it's going to take a host of products, from filters to components along with pipe, to rebuild the systems and actually clean up the water.

"First, on the filter side, one of the biggest components needed to clean water as it flows through systems is carbon.

"Calgon Carbon (NYSE: CCC) is focusing on its activated carbon that is demanded by filtration operations not just in the US but around the world. 

"And there's an added kicker. The carbon not only is vital for water treatment - but it's also crucial in smokestack scrubbers on coal-fired power plants to take out dangerous mercury emissions which also ends up adding to the clean water challenge.

"So, not only is Calgon Carbon getting contracts for water systems -- but look for a nice bit of new business coming its way if the EPA does its other job of looking after coal-fired power plant emissions.

"Next, on the pipe side of water systems, is a company based in my hometown of St. Louis -- Insituform Technologies (NSDQ: INSU). 

"This company specializes in providing both new and repair pipe systems for water and water treatment services. While the business is lagging in the US, it's booming in Asia and parts of Europe."