Manatt is pleased to be hosting California Capital Summit's monthly breakfast where Professor Laurence C. Smith of UCLA will be discussing how "Global Warming Is Good News For Economies of The Far North".
Global warming may wreak havoc on the environment of warm areas of the globe, says Smith, but it will unlock a treasure trove of oil, gas, fresh water and other natural resources in regions that are now ice-bound. Because those resources will be increasingly scarce in the rest of the world, their value will soar. Retreating ice sheets will open new shipping lanes, Canada's oil reserves will be second only to Saudi Arabia, and its cities will boom thanks to a rapid increase in population.
Professor Smith's book, The World In 2050: Four Forces Shaping Civilization's Northern Future, was published in September by Dutton. His research was ranked by "Discover" Magazine as one of the top 100 scientific discoveries of 2005.