It's always shark-infested waters when I report on climate change news.

On one side, there are those who think climate change is some kind of liberal conspiracy designed to crush the U.S. economy. On the other, there are those who believe it's the most pressing environmental issue facing the world today; believing we can just flip a switch and end our reliance on fossil fuels overnight... if we only had the will to do so.

Now I'm not so naïve to believe that we'll ever come to any kind of meaningful and honest agreement on climate change. At least not with the debate being fueled by so many ill-informed and overzealous environmentalists and all that oil and coal money that continues to line the pockets of our elected officials and fill the coffers of television advertisers and big PR firms.

But one thing is certain: The effects of a changing climate are not being overlooked by the military.

A Military Position on Climate Change

Last week, Jordan announced its plans to help fight climate change by having its military upgrade engines and old vehicles and by using new energy-saving technologies.

This announcement picked up a decent amount of coverage, and I noticed that there was quite a bit of ranting and raving in online comments sections about how the U.S. military needs to do the same.

But the truth is, the U.S. military isn't a laggard at all in this area. In fact, we even dedicated a section to this issue in our book, Investing in Renewable Energy.

Here's an excerpt written by my colleague, Chris Nelder:

In 2004, a leaked report from the Pentagon predicted that rapid climate change may well set off global competition for food and water supplies and, in the worst scenarios, spark nuclear war. "Because of the potentially dire consequences, the risk of abrupt climate change... should be elevated beyond a scientific debate to a US national security concern," it said.

In April 2007, a top panel of 11 retired military brass from all branches of the military, including five admirals and four generals, released a report that came to similar conclusions. Entitled "National Security and the Threat of Climate Change," it was commissioned by the Center for Naval Analyses, a nonprofit government-funded think tank. Though initially several of the authors were skeptical of the topic, they spent months meeting with climate scientists, business leaders, and other experts, and found the experience "very sobering." Their conclusion was,"Climate change is a national security issue."

They said that the security consequences of climate change should be fully integrated into national defense strategies, and "the intelligence community should incorporate climate consequences into its National Intelligence Estimate." In other words, they insist that we stop pretending that climate change and defense are separate issues, and start working on them together.

In March 2007, the US Army War College sponsored a two-day conference on the subject, entitled "The National Security Implications of Global Climate Change." This marked the first time that we have ever heard a military expert connect global warming with the global war on terror: "Climate change can provide the conditions that will extend the war on terror," said retired Admiral T. Joseph Lopez, former commander-in-chief of US Naval Forces Europe and of Allied Forces, Southern Europe.

Why is this so? Because it's a "threat multiplier," exacerbating the conditions that tend to breed terrorist groups in volatile parts of the world, such as water and food shortages. For example, the report notes, nearly half the world gets about half of its drinking water from melting snow and glaciers that are quickly disappearing. The authors note that migrations of environmental refugees, strained border relations, and resource conflicts will make it hard for states to meet the basic needs of their residents, which will lead in turn to security problems.

But the climate change threat affects us all, as report author Vice Admiral Richard Truly admits: "It's going to happen to every country and every person in the whole world at the same time."

The report also showed that the commanders were wisely taking a long-term view of the problem. Said retired Marine Corps General Anthony C. Zinni, former commander of US forces in the Middle East: "We will pay for this one way or another. We will pay to reduce greenhouse gas emissions today, and we'll have to take an economic hit of some kind. Or, we will pay the price later in military terms. And that will involve human lives. There will be a human toll."

So, clearly a changing climate is not being overlooked by the military. Nor is it being overlooked by those companies working with the military to reduce energy consumption. After all, if you want to reduce greenhouse gas emissions, you have to reduce fossil-fuel based energy consumption.

Whether its Lockheed Martin (NYSE: LMT) advancing efficiency technologies; Honeywell (NYSE: HON) providing foam insulation on tents (which in Iraq can cut the need for air conditioning by 45 percent); or Energy Focus (NASDAQ: EFOI), working with the United States Navy to implement ultra efficient LED lighting for Navy ships... there's definitely a market here, with a number of opportunities for Green Chip investors.

So feel free to continue the climate change debate all you want. But don't sleep on the opportunities that will continue to provide us with profits.

To a new way of life, and a new generation of wealth...

Jeff