Hedge Funds are Buying up Land in Africa and Water Rights in Australia
Journalist McKenzie Funk's fabulous new book on the business of climate change, talks about hedge funds buying up land in Africa and water rights in Australia and the American West.
Funk visits Greenland secessionists who imagine the mineral wealth made accessible by a thawing tundra will bankroll their cause, as well as Israeli snow makers, Dutch seawall developers, geoengineering patent trolls, private firefighters, Big Oil scenario planners, and the scientists deploying mutant mosquitoes against dengue fever—a horrific tropical disease that's crept into Florida of late.
In one particularly surreal chapter, he finds himself in Senegal meeting with African military officials overseeing the first phase of a quixotic 4,700-mile-long foliage barrier against the encroaching Sahara. In short, rather than waste our time on a settled question (duh, it's real!), Funk offers an up-close-and-personal glimpse of climate change's potential winners—and inevitable losers. The book is as fascinating and readable as it is unsettling.
In the excerpt below, a greatly trimmed version of Funk's chapter "Uphill to Money," we meet a fund manager for whom the recent predictions of severe drought in the West can only be good for business. After that, we'll circle back for a chat with the author.Source: Mother Jones