“To hear Al Gore and the Union of Concerned Scientists talk, global warming is one of the worst catastrophes ever to befall humankind. But for Betchart and a growing number of other companies worldwide, climate change is more of a mixed bag. It may be bad for the planet, but it’s giving rise to windfalls unimaginable during cooler times. Tourist jaunts to Warming Island are just the tip of the iceberg (literally!), as the Arctic thaw has attracted a vast range of profit seekers, including real-estate investors, shipping firms and oil magnates. Take Pat Broe, a businessman from Denver, who bought the Canadian Hudson Bay port town of Churchill for $7 in 1997, back when it was nothing more than a chunk of tundra suspended in ice. Over the past decade, Broe has seen his investment appreciate in ways less cynical observers never dreamed it would.” (10/06/08)