Saturday, February 25, 2006

It's Getting Warmer

Nobel prize winning economist Thomas Schelling offers commentary in the WSJ ($) on the uncertainties that are relevant to global warming:
"But the uncertainties are daunting: The best the IPCC can do is give us a range of possible warmings for any given increase in carbon dioxide concentration. And the upper bound of that range has been, for two decades, three times the lower bound -- an enormous range of uncertainty. On top of that are the uncertainties of what the change in temperature will do to climates around the world. And on top of that are the uncertainties of what those climate changes may do to the worlds we live in, and what people will be able to do to adapt successfully to what change is allowed to occur.

I'd buy insurance. I'd do it prudently, and without great alarm. Yet"

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