1. A method for producing images of a subject containing two spin species with a magnetic resonance imaging (MRI) system, the steps comprising: a) acquiring a pair of k-space image data sets using a pulse sequence in which NMR signals (S 0 ′) for one k-space image data set are acquired using a readout gradient of one polarity and NMR signals (S 1 ′) for the other k-space image data set are acquired with a readout gradient of the opposite polarity; b) reconstructing two images s 0 and s 1 from the respective k-space data sets S 0 ′ and S 1 ′; c) removing phase shifts from one or both of the two images s 1 and s 0 to produce respective images s 0 ′ and s 1 ″; d) Fourier transforming the two images s 0 ′ and s 1 ″ to k-space; e) producing from the resulting k-space data sets S 0 and S 1 a first spin species k-space data set W and a second spin species k-space data set F that are corrected for chemical shift; and f) Fourier transforming the first and second spin species k-space data sets W and F to produce a first spin species image w and a second spin species image f.