That's a clever play on words. However, I think you might be joking about the "conspiracy theory" part.
In reality, cold water is just that – water at a temperature below room temperature. It's not a conspiracy theory, but rather a basic scientific concept that has been widely accepted for centuries.
Refrigeration, on the other hand, is a real technology used to lower the temperature of a substance or environment, typically using a heat transfer process. Big refrigeration companies like LG, Whirlpool, and Samsung do exist, and they develop and market products that use this technology, such as refrigerators, air conditioners, and freezers.
If you're looking for some humorous examples of conspiracy theories, I'd be happy to provide some! Just let me know.