Speculators Push Arctic Sea Ice to $20 per Ton


As sea ice concentrations continue their historic decline, commodities speculators have pushed the price of virgin Arctic sea ice to $20/ton, and the Smithsonian Institution is buying up much of what is left on the black market.
(Fairbanks, Alaska) Speculators on the Arctic Natural Commodities Exchange (ANCE) pushed the price of virgin Arctic sea ice (ANCE symbol CICE) to $20/ton yesterday, continuing a price surge that hasn't been seen since the mosquito futures peak of $4 set during the drought of 1988. "It's been crazy on the floor of the exchange", said native Inuit trader Nootaikok Sedna, locally known as "No-kok", wiping the frost from his nostrils. "Ever since the sea ice started receding twenty years ago, speculators have been pushing up the price in anticipation of a complete meltdown of the sea ice stock within the next few years."......... (full story)