Michael Bloomberg, Hank Paulson tally cost of climate change

Michael Bloomberg, Hank Paulson tally cost of climate change

Michael Bloomberg, Hank Paulson tally cost of climate change
Former New York Mayor Michael Bloomberg (left) and former US Treasury Secretary Hank Paulson

By Jonathan Fahey, The Associated Press

NEW YORK – Climate change is likely to exact enormous costs on U.S. regional economies in the form of lost property, reduced industrial output and more deaths, according to a report backed by a trio of men with vast business experience.

The report, released Tuesday, is designed to convince businesses to factor in the cost of climate change in their long-term decisions and to push for reductions in emissions blamed for heating the planet.

It was commissioned by the Risky Business Project, which describes itself as nonpartisan and is chaired by former New York City Mayor Michael R. Bloomberg, former Treasury Secretary Henry M. Paulson Jr. and Thomas F. Steyer, a former hedge fund manager.

Among the predictions: Between $66 billion and $106 billion in coastal property will likely be below sea level by 2050, labour productivity of outdoor workers could be reduced by 3 per cent because extremely hot days will be far more frequent, and demand for electricity to power air conditioners will require the construction of more power plants that will cost electricity customers up to $12 billion per year.

“Every year that goes by without a comprehensive public and private sector response to climate change is a year that locks in future climate events that will have a far more devastating effect on our local, regional, and national economies,” warn the report’s authors.

The analysis and calculations in the report were performed by the Rhodium Group, an economic research firm, and Risk Management Solutions, a catastrophe-modeling company that works for insurance companies and other businesses. It was paid for by the philanthropic foundations of Bloomberg, Paulson and Steyer, among others.

The report analyzes impacts of climate change by region to better show how climate change affects the businesses and industries that drive each region’s economy.

  • The Northeast will likely be most affected by sea level rise, which will cost an additional $6 billion to $9 billion in property loss each year.
  • The Southeast will likely be affected both by sea-level rise and extreme temperatures. The region, which has averaged eight days of temperatures over 95 degrees each year, will likely see an additional 17 to 52 of these days by midcentury and up to four months of them by the end of the century. This could lead to 11,000 to 36,000 additional deaths per year.
  • Higher temperatures will reduce Midwest crop yields by 19 per cent by midcentury and by 63 per cent by the end of the century.
  • The Southwest will see an extra month of temperatures above 95 degrees by 2050, which will lead to more frequent droughts and wildfires.

The report does not calculate the cost of these droughts or wildfires, or many other possible costs such as the loss of unique ecosystems and species and the possible compounding effects of extreme weather conditions. Nor does it calculate some of the ways economies could adapt to the changing climate and reduce the costs of climate change.

“There’s a whole litany of things not calculated in the assessment,” said Gary Yohe, an economics and environmental studies at Wesleyan University and vice chair of the National Climate Assessment, a U.S. government project set up to study the effects of climate change. Yohe was not part of the Risky Business Project report, but he was asked to review it.

Still, he said, “The general conclusions are right on the money.”

And he said that while other groups have also attempted to calculate the financial impacts of climate change around the world, this report is notable because of the business and financial experience of the people behind it. Beyond the three co-chairs, the members of the group’s risk committee include Former Treasury Secretary Robert Rubin, former Cargill CEO Gregory Page, and George Shultz, former treasury secretary and secretary of state.

“These are people who have managed risk all their lives and have made an enormous amount of money doing so,” Yohe said.


19 thoughts on “Michael Bloomberg, Hank Paulson tally cost of climate change

  1. …interstellar travel constant acceleration (no religion, Earth flag)… 1 only United Planet without nations, without wars, and without frontiers (cities only), with 1 only World Government, 1 only Idiom, 1 only Army, 1 only Anthem and 1 only Flag.

  2. …interstellar travel constant acceleration (without suffering)… in the Brazil of the “Ordem e Progresso” the “children of the street” abandoned such as if they were dogs…in countries of Orient as Lebanon, children almost babies thrown away on the ground together with an adult begging alms, already from their more tender infancy they get accustomed to look the World from down and suffering…children dying of cold into refugee camps in countries with endless religion´s wars…and meanwhile shameless multireligious-pontifices in their golden palaces eating partridges, and well sheltered with the best wool in the best blankets made in England, the best boots…and not fall down their faces of shame when they look to themselves in the mirror… How they can have $50,000 million in the Bank, living on a golden skyscraper and to be dedicated to want build a barrier-wall, instead of to be dedicated to saving to all those who they can?… Off with religion, off with monarchies and off with politicians shameless.

  3. …interstellar travel constant acceleration (without religion “feasts”: Inquisition)… when until goes to continue the world the “feasts” of religion enduring?… What a beautiful is the “Christ”mas!, but…that still only has the splendid showcase and after with the back-room of religious gloomy darkness, horror and crime. No more wiles to innocents, make already the authentic Birthmas, the Nativity from the wonderful real women, and not from the inhuman-religious tales. Have to transform already ALL the “feasts” of religion into TRUE HUMAN FESTIVITIES, that not “pagans”, nor do “mundane”. Have that send alredy once and for all the religion, what religion, mine, yours, or of those?, all religions: the religion…to the trash (finished religion´s Wars, the unique Immortality it is coming from We self: Technological Immortality). Without delinquency, a New World based on Truth and Justice: 1 only United Planet without Nations, without Wars and without Frontiers (only cities), with 1 only World Government and 1 only Idiom… No more religion for to continue “forever and ever” the religious infecting global media, enterprises (watch cross seeming feign “4 windows” in Windos10), governments, schools, high schools and universities with their ancestral system buys-wills, “if you want have a job, house and a car on the door, already you know put the neck in the priests”, with their thousands of millions of “believers”: Bought, or Innocents, or Ignorant… No more religious tale time counting false “century XXI, year 2019 a.c.”… A Planetary Convention to select the True Starting of the Time Counting… if from beginning of the Bronze Ages year 0, year -12500 begin Mathematics: some straight lines representing each one the number 1… on the Earth Planet, century 66… Merry Birthmas and Happy New Year 6519.

    1. (…Time Counting… if from beginning of the Bronze Ages year 0, year -10500 begin Mathematics: some straight lines representing each one the number 1)

  4. …interstellar travel constant acceleration (electric cars: charge in street-lamps)… installing on every normal street-lamp of the World (supplying them triphasic current 380 v.ac) e.g. at exterior of the tube to 1 mt height from ground and a differential anti-shock, a plastic ribbon screwed and rain protected with 4 opposites electric-plugs 380 v.ac type world-standard (each street-lamp, already with activated current 24 hours, can have a light-sensor for automatic on/off). Each electric car exits from factory obligatorily with 2 electric-plugs for 380 v.ac, one of entrance at front and another of exit at rear, and 1 connection-cable with 10 mts, so the cable always stays over ground between street-lamp/car or car/car. ENTRANCE PLUG: the own car´s converter adapts the network-current to the adequate voltage of the car. EXIT PLUG: free and available by Law for whichever car that arrives after and cans connect to the car before. So nobody has that wait for, all cars that arrive to street-lamp they can connect in line one another (would have that watch and solve the fallen of tension and amperage with various cars at the same time). When a car finishes its charge, if wants disconnect all, connects the next car to the anterior, and runaway (if they do not connect the cable of your car, the aboard sensor calls to your mobile for go to connect it), the other cars go advancing towards the street-lamp and connect again one another. So nobody has that wait for. How the GRAPHENE BATTERIES Have Not Memory Effect, they can disconnect/connect without problem with any charge level. If governments/companies have that give money for that electric-charge to each one, can do it applying a money-charge by kms/year declared (at International traffic, are annotated kms from milometer to enter/exit, paying to exit: e.g. money-charge=$1 cent/km, car brings battery-charge for travel 100 kms, reading kms entrance 47000, exit 48000 and carries battery-charge for travel 300 kms; total kms=48000-47000-100+300=1200 kms*$1 cent=$12), finished the “history” of individual kilowat-meters, etc. Electric car´s charge solved the problem. HAVE TO INSTALL ALREADY THE PLUGS in all street-lamps around the World…and the factories must to put those 2 electric-plugs to all cars, finished the electric-charge´s actual problem, for electric cars… Of course, together with technological progress also socially progressing for avoiding delinquency and vandalism into society, not only with more strong measuring legal but also with an Authentic Social Justice, but that is already other “history”.

  5. …interstellar travel not acceleration constant (graphene: planet errant)… every bit a Terraformed planet errant into a bubble graphene how diamond transparent…with fusion reactors which will give the light and heat how an artificial sun, encircling an antigravitational field Tesla/Brown “electrogravitics” prevents objects collision against the “blue-arch of heaven”… Who needs already a star…

  6. …interstellar travel constant acceleration (Earth Day)… PLANETARY EMERGENCY: global warming due to pouring pollutants greenhouse effect into the air…the generalized burn fossil fuels it must stop immediately. Car´s Factories: is inadmissible design dirty new cars with internal combustion, have to make and buy Solar Energy clean electric cars. Stop F1, welcome EF. Eliminate the cattle and natural meat how food. Leave Carbon and Petroleum for nonflammable uses. There are huge quantities of Methane also in oceanic bottoms how solid methane-hydrates, waiting… Methane Big Greenhouse Effect… Over there is visible, Lakes on polar areas already are releasing from bottom to surface big methane bubbles… Permafrost is Melting…when all that methane passing to Atmosphere… We receive vague communiqués… What can we do for avoid the future catastrophe on Earth?. Have to cooling the Planet again urgently, and do not thinking more Wars. Humankind must surmount its technological adolescence and go beyond…to the stars.

  7. …3D Bioprinting-Immortality (biological timers)… Forever young with modified Biological Timers…which are the biological timers?, where are them? (genes, hypothalamus…), how functioning them?, how can modify them (telomerase…) for maintenance the hormones production, enzymes, cellular regeneration…all Eternity at same level of the 18 years old?… Have to accelerate research about Memory and the Space´s colonization… Immortality-comes…

    1. Nobel Prize physiology 2017 about circadian rhythms, but… Biological Timers…ordering stop growth at finish of adolescence…ordering start to grow-old at beginning of adulthood…

  8. Meanwhile the World looks to elsewhere… Giant HORNETS…are threatening to all Humankind…it is necessary that the human beings, instead of destroy among them, destroy to those dangerous insects of huge exponential growing…seriously beginning already, at present.

  9. …the beginning of the End of the World (no polar ice: the countdown has already begun)… the World is silenced by politicians and their armies and their control of the media by the religious. They are leading the Planet to catastrophe worrying only of the economy, “their” economy. Politicians do not want to know anything about climate change, even bothers to talk topic, do not care about anything other than “utilize” their way through the power to… ((Scientists say: “…Examining 20,000 data points, the researchers showed that the Southern Ocean surface has freshened during the last 60 years. They also found that vertical gradients of salinity and density have increased in the Southern Ocean, suggesting that mixing has been reduced. Seven of the models suggest that increased freshwater in the Southern Ocean could stop the convection from occurring altogether by 2030, and most models show strong decreases in convection during the 21st century, reducing the Antarctic Bottom Water´s formation. The absence of polynyas in recent decades could mean that heat is getting trapped in the deeper ocean, possibly contributing to the recent “hiatus” in global atmospheric warming and the increase in Antarctic sea ice extent that have been observed in recent years.”))… Ice of South Pole that forming in the sea, to freezing increases salinity of water´s around that sinks forming the Antarctic botton current salty, cold and dense run towards the North… Scientist checking that there can be NO and CONVECTION in 2030 in the stratified ocean with almost freshwater surface…the beginning of the End of the World…and the experts interested in Laws POLITICIANS not even know what it is and looking elsewhere unsigned serious international protocols that IMMEDIATELY STOP AROUND THE PLANET POURING OF CONTAMINATION. It´s our economy…

  10. …global warming (“good” no longer spend cold)… pouring pollutants greenhouse effect into the air is melting the Poles. Besides on melting permafrost will free into the Atmosphere million Tm of methane with big greenhouse effect. This large amount of freshwater to the ocean could stop (ThermoHaline Circulation) vertical deep sea currents which depend on starting in Poles from surface ↓↓ downwards on a delicate balance between fresh and salty water and temperatures, and continuing go away slow and cold for the bottom loading nutrients and carrying large heat quantities. Deep sea currents move 90 % of all the oceans water. Heat from the Sun reaches the equator and currents distribute it throughout the Planet, then…goodbye to our warm climate. The horizontal oceanic currents on surface (move 10 % of all the oceans water) produced by winds, rotating (Gyres) all by the Coriolis effect, and some others in all levels by the rotation of the Earth from West → East, like the Antarctic circumpolar current, will continue…but the vertical currents produced by the sinking of horizontal currents of dense salty water that reaches the Poles where the water is sweeter, less salty, and form cold bottom currents going heat transvasing between different latitudes would stop (why are the Grand Banks fishing in cold latitudes?…because over there is the POLAR ICE, freshwater, different sweet/salty density, salty dense water arriving and sinks in a little salty water environment…nutrients that are removed from the bottom cold water and rise to the surface, phytoplankton that feed on nutrients, zooplankton that feed on phytoplankton, fish that feed on zooplankton)… No polar ice over there will be no vertical currents…could reduce the rise of nutrients to the surface and therefore PHYTOPLANKTON SHORTAGE MAY DECREASING ITS VITAL CONTRIBUTION WITH OXYGEN TO THE ATMOSPHERE (90 %)…fish…winds in some places of more warm latitudes carry out the surface hot water permitting the outcropping ↑↑ to surface of water and plankton (the upwelling) from the bottom cold current coming from the Pole, forming other Banks fishing, and returning on surface again like warm water towards the Poles completing the THC circuit… Without polar ice the sea it could almost stratified into horizontal layers with little energetic movement of water masses in vertical which is what removes fertilizer nutrients from the bottom cold water, and also produces the THC… Besides lowering salinity of the sea, for that great contribution with freshwater to melt the Poles, will increase evaporation (ebullioscopy: the less salt has, more evaporates) producing gigantic storm clouds as have never seen, that together with altering of the ocean currents, could cool areas of the Planet causing a new ice age… Warming…invasion of tropical diseases carried by their transfer agents, already without the “general winter” containing them would fall upon the World like a plague…can produce a cooling, a new ice age, like living at the North Pole…and less oxygen in the Atmosphere… Is not known to be worse… Go choosing.

  11. never stop pouring million Tm/year contamination to the foul air, they are almost suffocating in cities…and blame to the Anticyclone

  12. Much of the article’s “meat” is from sea level rise, and much ado and ballyhoo has recently been made in the mainstream press, about Western Antarctica’s glacier, and how it is going to melt and flood everything. There’s a lot that doesn’t make the news, though, and some of that is mitigation of the “catastrophe” (the glacier that will probably take a thousand years to melt)…
    Just as the western Antarctic is melting, the eastern Antarctic is accumulating excess snow (and I mean, REALLY excessive!). So much snow, that it will soften the blow of that glacier that is melting…

    Boning, Lebsock, Landerer and Stephens, published, 02 NOV 2012: “…recent extreme precipitation events along the East Antarctic coast that led to significant regional mass accumulations that partially compensate for some of the recent global ice mass losses that contribute to global sea level rise. The gain of almost 350 Gt from 2009 to 2011 is equivalent to a decrease in global mean sea level at a rate of 0.32 mm/yr over this three-year period.

    C. GENTHON, G. KRINNER, H. CASTEBRUNET (Annals of Glaciology 50 2009) say that increased precipitation in the Antarctic is so large that it will slow down sea level rise by 1 mm/year. The interior of the continent is a desert; the additional precipitation collects on the margins.

    “Abstract – 7 JUN 2013
    Recent snowfall anomalies in Dronning Maud Land, East Antarctica, in a historical and future climate perspective
    Enhanced snowfall on the East Antarctic ice sheet is projected to significantly mitigate 21st century global sea level rise. In recent years (2009 and 2011), regionally extreme snowfall anomalies in Dronning Maud Land, in the Atlantic sector of East Antarctica, have been observed. It has been unclear, however, whether these anomalies can be ascribed to natural decadal variability, or whether they could signal the beginning of a long-term increase of snowfall. Here we use output of a regional atmospheric climate model, evaluated with available firn core records and gravimetry observations, and show that such episodes had not been seen previously in the satellite climate data era (1979). Comparisons with historical data that originate from firn cores, one with records extending back to the 18th century, confirm that accumulation anomalies of this scale have not occurred in the past ~60 years, although comparable anomalies are found further back in time. We examined several regional climate model projections, describing various warming scenarios into the 21st century. Anomalies with magnitudes similar to the recently observed ones were not present in the model output for the current climate, but were found increasingly probable toward the end of the 21st century.”

  13. “… according to a report backed by a trio of men with vast business experience…” However, no experience dealing with the conflict of “science” and the hucksters and liars that the trio of men are falling victim to. These men, giants of investment, are basing their opinions upon the IPCC reports… How well have the IPCC reports done? The computer models, used by the IPCC, all say the world would be warmer now… but the world’s temperature hasn’t gone up a lick in more than seventeen years! The actual temperature falsifies all the models’ predictions, to a 98% confidence. Week after week, journal-published, reputable scientists have been producing paper after paper, exposing holes in the parameters that the IPCC models used.

    “The [Southeast] region, which has averaged eight days of temperatures over 95 degrees each year, will likely see an additional 17 to 52 of these days by midcentury … This could lead to 11,000 to 36,000 additional deaths per year.”

    Cold weather kills humans, more than a few hot days will- but what temperature will rise? We’ve not seen hide nor hair of “Global Warming” now, for more than seventeen years.

    The rest of the article summarizes to ‘sea level rise” – and I’ll make a small concession here – Sea levels will rise… but not at all like the IPCC predicted! 61% of the tide gauge records show no change in sea levels, 4% show a decrease, and a minority of 35% show a rise. “Sea Level” is actually a regional problem, not a global one. Much of what the USA “sees” as a rise (for example, Charleston, SC, coastal NJ, and other places, are actually sinking dirt, not rising oceans. The mouth of the Cheasapeake, though, is an ancient meteor strike, which again means local dirt sinking, not oceans rising.

    The United Nations spoke in late 2009 of a maximum 2 metre rise by 2100, up from 18-59cm estimated in 2007; 28 to 98 centimeters by 2100, according to the latest IPCC report. AlGore, in his Oscar-winning film, An Inconvenient Truth, went much further, talking of 20 feet, and showing computer graphics of cities such as Shanghai and San Francisco half under water.

    The inconvenient truth: sea level is not changing much. Did you know, “sea level rise” is slowing down? Actual measurements show that. There is no sign of anthropogenic changes, no evidence of mankind’s influence, in the sea level data. Sea level is rising, and should rise, for obvious natural causes. It is nothing to worry about. It is rising at less than half of what the IPCC claims.

    “…It is found that the GMSL rises with the rate of 3.2 ± 0.4 mm/yr during 1993-2003 and started decelerating since 2004 to a rate of 1.8 ± 0.9 mm/yr in 2012. This deceleration is mainly due to the slowdown of ocean thermal expansion in the Pacific during the last decade, as a part of the Pacific decadal-scale variability, while the land-ice melting is accelerating the rise of the global ocean mass-equivalent sea level. Recent rapid recovery of the rising GMSL from its dramatic drop during the 2011 La Niña introduced a large uncertainty in the estimation of the sea level trend, but the decelerated rise of the GMSL appears to be intact.”


    With the steady increase of CO2 levels, a trend of increasing sea levels is required (to support “Global Warming” theory). “The new reconstruction suggests a linear trend of 1.9 ± 0.3 mm·yr− 1 during the 20th century, with 1.8 ± 0.5 mm·yr− 1 since 1970.”


    A 2012 paper by Beenstock et al. finds global mean sea levels rose at only 1 mm/year, equivalent to less than 4 inches per century, over the 203 year period from 1807-2010.
    The authors also find no acceleration of sea level rise, which indicates that there is no human influence upon sea levels. In addition, the authors find that sea level rise is a local, rather than global, phenomenon; 61% of the tide gauge records show no change in sea levels, 4% show a decrease, and a minority of 35% show a rise.

    “For 1993 to 2001, all the data show large rates of sea-level rise over the western Pacific and eastern Indian Ocean (approaching 30 mm yr− 1) and sea-level falls in the eastern Pacific and western Indian Ocean (approaching − 10 mm yr− 1).” This indicates a “sloshing” -after removal of barometric pressure – 10 to 20 times as hard as from global sea level rise.

    This implies that relative sea level change is primarily related to subsidence (land sinking), or post-glacial rebound (land rising) rather than sea level changes from melting ice on land, or from thermal expansion (called “steric”, from warming) or, to the rather short, changing ocean currents.

    Beenstock: “…tide gauges dating back to the 19th century were located where sea levels happened to be rising. Data reconstructions based on these tide gauges are therefore likely to over-estimate sea level rise.

    Beenstock: “Although mean sea levels are rising by 1mm/year, sea level rise is local rather than global, and is concentrated in the Baltic and Adriatic seas, South East Asia and the Atlantic coast of the United States. In these locations, covering 35 percent of tide gauges, sea levels rose on average by 3.8mm/year. Sea levels were stable in locations covered by 61 percent of tide gauges, and sea levels fell in locations covered by 4 percent of tide gauges. In these locations sea levels fell on average by almost 6mm/year.”

    Beenstock et al. measurements of sea level rise agrees well with the 1.1-1.3 mm/yr (4.3 to 5.1 inches per century) found by the NOAA 2005-2012 Sea Level Budget, which used both satellite and buoy data. They found no acceleration of sea level rise.

    NOAA: “The regional patterns of sea level change, however, are many times larger, and can be extremely complex.”

    Sea level is a local phenomenon; NOAA calls it “regional”.

    A lack of measured acceleration of sea level rise dooms the alarmist theory of “Global Warming”. Church and White, 2006, found what they called “significant acceleration”, but subsequent studies have not confirmed that. http://onlinelibrary.wiley.com/doi/10.1029/2005GL024826/abstract

    Even more peer-reviewed, journal-published research shows that the rate of sea level rise is slowing. A paper by Ablain, Cazename, et al:

    Ablain: “These new calculations highlight a reduction in the rate of sea level rise since 2005, by ∼2 mm/yr. This represents a 60% reduction, compared to the 3.3 mm/yr sea level rise (glacial isostatic adjustment correction applied) measured between 1993 and 2005. Since November 2005, MSL [mean sea level] is … measured by a single satellite, Jason-1. However, the error analysis performed here, indicates that the recent reduction in MSL [mean sea level rise] rate is real.” …

    Ablain: “One of the most important indicators of global warming is the global Mean Sea Level (MSL), which integrates the response of many components of the climate system. … Tide gauge records have shown, that during the 20th century, global MSL has risen at an average rate of about 1.7 mm/yr (Church and White, 2006, Jevre- jeva et al., 2008). Since 1993, altimeter measurements from TOPEX/Poseidon (T/P) and Jason-1 satellites provide MSL measurements with global coverage (e.g., Nerem and Mitchum, 2001; Cazenave and Nerem, 2004; Leuliette et al., 2004; Nerem et al., 2006). The most recently published study using altimeter data reports a global MSL rate of 3.3±0.4 mm/yr over the 1993-2006 time span (Beckley et al., 2007). If the Global Isostatic Adjustment (GIA) correction … {about 0.3 mm/yr}; (Peltier, 2004)) is accounted, this rate increases to 3.6 mm/yr. However, differences in estimated MSL rates, from different authors, up to 0.7 mm/yr, are commonly reported. It is likely that such a scatter mostly results from differences in data processing and in applied geophysical corrections.” http://www.ocean-sci.net/5/193/2009/os-5-193-2009.pdf

    A paper in 2010 by Manfred Wenzel and Jens Schröter, in the Journal of Geophysical Research – Oceans, did not find the telltale signs of mankind’s influence, as predicted by “Global Warming” theory. The paper confirms other studies of tide gauge records which show that there has been no statistically significant acceleration in sea level rise over the past 100+ years, in contrast to statements of the IPCC and AlGore.

    Wenzel & Schröter: “The global mean sea level for the period January 1900 to December 2006 is estimated to rise at a rate of 1.56 ± 0.25 mm/yr [0.061 inches per year, roughly six inches per century] which is reasonably consistent with earlier estimates, but we do not find significant acceleration. The regional mean sea level of the single ocean basins show mixed long-term behavior. While most of the basins show a sea level rise of varying strength, there is an indication for a mean sea level fall in the southern Indian Ocean. Also, for the the tropical Indian and the South Atlantic no significant trend can be detected. Nevertheless, the South Atlantic, as well as the tropical Atlantic, are the only basins that show significant acceleration. On shorter timescales, but longer than the annual cycle, the basins’ sea level are dominated by oscillations with periods of about 50–75 years, and of about 25 years…”

    The rate of sea level rise, as determined by satellite altimetry (which is only available since 1992 and is calibrated to tide gauges) has decelerated over the past 5 years, from 3.2 mm/yr to only 1.5 mm/yr, about the same rate as calculated by Holgate for the period 1954-2003.”


    According to the 2012 NOAA sea level budget, global sea levels rose at only 1.1 – 1.3 mm/year from 2005-2012, which is less than half of the rate claimed by the IPCC (3.1 mm/yr) and is equivalent to less than five inches per century. The acceleration of sea level rise, crucial to proving the alarmist’s “Global Warming” theory, is absent.

    The NOAA report compares sea level rise, calculated from two different methods. The first uses satellite altimetry measurements of sea surface level relative to the satellite’s orbital altitude. The second method combines ARGO (ocean buoy) measurements of ocean temperature, to calculate the the steric (thermal expansion) change to ocean volume, plus the GRACE satellite measurements estimating the ocean’s mass. The rate of sea level rise, using the ARGO & GRACE method, shows a sea level rise of only 0.2 (ARGO) + 0.1 (GRACE) = 0.3 mm/yr.

    NOAA: “The regional patterns of sea level change, however, are many times larger and can be extremely complex. Steric sea level change is the dominant contributor to the spatial trend patterns observed for total sea level … While the global ocean has been gaining mass from the continents during this period, the Indian Ocean continues to show a net loss of mass to the other basins (Chambers and Willis 2009).”

    Only by adding on a relatively large and highly questionable Gobal Isostatic Adjustment, (based on a computer model, Paulson’s, from 2007) of 0.9 mm/yr to the GRACE data, do the two estimates come close to agreement. Following this questionable Global Isostatic Adjustment, the ARGO + GRACE estimate is 1.1± 0.8 mm/yr, as compared to the satellite altimetry estimate of 1.3 ± 0.9 mm.

    Trends of sea level that start in 2012 or 2011 should be suspect, since there was a large drop in sea level in 2011, about 7mm, unprecedented in the satellite era. That’s two to ten years’ worth of rise, gone in one season (temporarily – it is attributed to flood waters sitting on Australia, which eventually will evaporate or run off, back into the oceans). http://www.theguardian.com/environment/2013/aug/23/australian-floods-global-sea-level

    John Fasullo, of the US National Centre for Atmospheric Research: “Rain that falls in the outback of the largest island – also the smallest continent – tends to dribble away into inland waterways and seemingly get lost, without ever making it to the coast, or to collect in shallow inland seas and stay there till it evaporates. “It is a beautiful illustration of how complicated our climate system is.”

  14. Without having carefully read the Bloomberg – Paulson piece. I would be surprised if they traced the roots of the climate change threats to a ravenous, free-market capitalist system where it rightly belongs.

    1. The western world has not had a “free market” or capitalist system since 1932. The best that the world has to offer is actually a segment of the market in China.

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