I've always been against the massive export of water.
Water has a lot of value, but it has no price. Water is an essential resource and it must always be attached to the environment, to its surroundings.
There's also the question of royalties—I'm thinking, for example, of bottlers. The issue was raised in Quebec, but is now being resolved. It's only normal that people who profit from water should pay something back to the community, because they're exploiting a common, collective resource. So it's only right that this wealth should be redistributed. At present, those who exploit the resource get off lightly, whereas it is normally a common good.
In my opinion, the question of royalties is more a matter for the provinces.