Global warming update: Global warming is now real, but a tremendous boon to business. Please adjust your talking points accordingly.

The melting ice is a blessing for oil companies which see a potential treasure opening up before their very eyes.

According to the U.S. Geological Survey, 25 percent of the world's undiscovered oil and gas is thought to lie under the Arctic seabed.

The melting ice could also open new maritime routes, such as the Northwest Passage, to year-round international shipping, offering a much shorter route than the Suez and Panama canals.

But the change would be a catastrophe for many Arctic species and risks disrupting the entire ecosystem.

Oh, is that all?