Wednesday, March 18, 2009

Climate Debate - The Numbers Game


Marc Morano, who is on Sen. Inhofe's staff
, sent out an email the other day that contained the following:

Washington DC: Fifty nine additional scientists from around the world have been added to the U.S. Senate Minority Report of dissenting scientists, pushing the total to over 700 skeptical international scientists – a dramatic increase from the original 650 scientists featured in the initial December 11, 2008 release. The 59 additional scientists added to the 255-page Senate Minority report since the initial release 13 ½ weeks ago represents an average of over four skeptical scientists a week. This updated report – which includes yet another former UN IPCC scientist – represents an additional 300 (and growing) scientists and climate researchers since the initial report’s release in December 2007.

The over 700 dissenting scientists are now more than 13 times the number of UN scientists (52) who authored the media-hyped IPCC 2007 Summary for Policymakers. The 59 additional scientists hail from all over the world, including Japan, Italy, UK, Czech Republic, Canada, Netherlands, the U.S. and many are affiliated with prestigious institutions including, NASA, U.S. Navy, U.S. Defense Department, Energy Department, U.S. Air Force, the Philosophical Society of Washington (the oldest scientific society in Washington), Princeton University, Tulane University, American University, Oregon State University, U.S. Naval Academy and EPA. [read more]

I'm certain that there is another list with all of the scientists who support the opposing view.

Here is the issue: all that is really available for debate is an hypothesis. It is hypothesized that human-produced CO2 is the primary driver of climate change... specifically warming. There are computer models that attempt to simulate the mechanism that makes human-produced CO2 the primary driver of climate change... specifically warming.

The problem is quite simple: the computer models fail. So all that is left at this point are arguments for and against the position. That doesn't mean the arguments are without meaning or impact. Politicians have enthusiastically attached themselves to both sides of the argument. For politicians, the issue is not about the climate or science; the issue is all about establishing a voter base... voters who, by and large, have little understanding about the issue beyond a picture of a healthy polar bear on an ice floe.

So, it is a numbers game. We have more scientists who conjecture our way rather than your way. We have more voters who can be convinced by anecdotal incidents ... snow storms in Iraq or hurricanes in Europe... than you have. What are really missing are the numbers that verify the hypothesis.

Sure, there are plenty of data analyses. Hall Of Record has offered up the analysis of Extreme Temperatures in the U.S. It doesn't verify or disprove the hypothesis. It challenges some of the tenets posed in the hypothesis... and there certainly are many challenges that cast significant doubt.

... And then there are some scientists who simply say that the physics of a human-produced CO2 greenhouse are based on falsifications. That's not a challenge; that's an attack. Hey, they're Germans... what do you expect?


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CO2 Cap and Trade

There is always an easy solution to every human problem—neat, plausible, and wrong.
Henry Louis Mencken (1880–1956)
“The Divine Afflatus,” A Mencken Chrestomathy, chapter 25, p. 443 (1949)
... and one could add "not all human problems really are."
It was beautiful and simple, as truly great swindles are.
- O. Henry
... The Government is on course for an embarrassing showdown with the European Union, business groups and environmental charities after refusing to guarantee that billions of pounds of revenue it stands to earn from carbon-permit trading will be spent on combating climate change.
The Independent (UK)

Tracking Interest Rates

Tracking Interest Rates


SEARCH BLOG: FEDERAL RESERVE for full versions... or use the Blog Archive pulldown menu.

February 3, 2006
Go back to 1999-2000 and see what the Fed did. They are following the same pattern for 2005-06. If it ain't broke, the Fed will fix it... and good!
August 29, 2006 The Federal Reserve always acts on old information... and is the only cause of U.S. recessions.
December 5, 2006 Last spring I wrote about what I saw to be a sharp downturn in the economy in the "rustbelt" states, particularly Michigan.
March 28, 2007
The Federal Reserve sees no need to cut interest rates in the light of adverse recent economic data, Ben Bernanke said on Wednesday.
The Fed chairman said ”to date, the incoming data have supported the view that the current stance of policy is likely to foster sustainable economic growth and a gradual ebbing in core inflation”.

July 21, 2007 My guess is that if there is an interest rate change, a cut is more likely than an increase. The key variables to be watching at this point are real estate prices and the inventory of unsold homes.
August 11, 2007 I suspect that within 6 months the Federal Reserve will be forced to lower interest rates before housing becomes a black hole.
September 11, 2007 It only means that the overall process has flaws guaranteeing it will be slow in responding to changes in the economy... and tend to over-react as a result.
September 18, 2007 I think a 4% rate is really what is needed to turn the economy back on the right course. The rate may not get there, but more cuts will be needed with employment rates down and foreclosure rates up.
October 25, 2007 How long will it be before I will be able to write: "The Federal Reserve lowered its lending rate to 4% in response to the collapse of the U.S. housing market and massive numbers of foreclosures that threaten the banking and mortgage sectors."
"Should the elevated turbulence persist, it would increase the possibility of further tightening in financial conditions for households and businesses," he said.

"Uncertainties about the economic outlook are unusually high right now," he said. "These uncertainties require flexible and pragmatic policymaking -- nimble is the adjective I used a few weeks ago."

December 11, 2007 Somehow the Fed misses the obvious.
[Image from:]
December 13, 2007 [from The Christian Science Monitor]
"The odds of a recession are now above 50 percent," says Mark Zandi, chief economist at Moody's "We are right on the edge of a recession in part because of the Fed's reluctance to reduce interest rates more aggressively." [see my comments of September 11]
January 7, 2008 The real problem now is that consumers can't rescue the economy and manufacturing, which is already weakening, will continue to weaken. We've gutted the forces that could avoid a downturn. The question is not whether there will be a recession, but can it be dampened sufficiently so that it is very short.
January 11, 2008 This is death by a thousand cuts.
January 13, 2008 [N.Y. Times]
“The question is not whether we will have a recession, but how deep and prolonged it will be,” said David Rosenberg, the chief North American economist at Merrill Lynch. “Even if the Fed’s moves are going to work, it will not show up until the later part of 2008 or 2009.
January 17, 2008 A few days ago, Anna Schwartz, nonagenarian economist, implicated the Federal Reserve as the cause of the present lending crisis [from the Telegraph - UK]:
The high priestess of US monetarism - a revered figure at the Fed - says the central bank is itself the chief cause of the credit bubble, and now seems stunned as the consequences of its own actions engulf the financial system. "The new group at the Fed is not equal to the problem that faces it," she says, daring to utter a thought that fellow critics mostly utter sotto voce.
January 22, 2008 The cut has become infected and a limb is in danger. Ben Bernanke is panicking and the Fed has its emergency triage team cutting rates... this time by 3/4%. ...

What should the Federal Reserve do now? Step back... and don't be so anxious to raise rates at the first sign of economic improvement.
Individuals and businesses need stability in their financial cost structures so that they can plan effectively and keep their ships afloat. Wildly fluctuating rates... regardless of what the absolute levels are... create problems. Either too much spending or too much fear. It's just not that difficult to comprehend. Why has it been so difficult for the Fed?

About Me

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Michigan, United States
Air Force (SAC) captain 1968-72. Retired after 35 years of business and logistical planning, including running a small business. Two sons with advanced degrees; one with a business and pre-law degree. Beautiful wife who has put up with me for 4 decades. Education: B.A. (Sociology major; minors in philosopy, English literature, and German) M.S. Operations Management (like a mixture of an MBA with logistical planning)