Calafia Beach Pundit: Climate Change

eResearch | I have long maintained that the hue and cry about humans being the principal source of global warming is a bit of a non-starter. I am a true skeptic. The notion of global warming, or climate change, suits the pseudo-environmentalists who want to blame solely the human race for the warming of surface temperatures all around the globe. While I acknowledge that humans do impact global temperatures somewhat (just look at all the cars around the world that constantly emit CO2 into the atmosphere), nevertheless I believe that humans contribute only a minute portion of the increase in rising global temperatures. Much more likely is the continuously changing circumstances occurring on the Sun, with increased solar activity being scientifically noted. Solar flares emanating from the solar surface could easily transport the 93 million miles that separates the Sun from Earth. Fortunately, Earth’s “atmospheric shield” saves us from certain incineration.

Global warming is not in dispute. There have been numerous scientific bodies that have provided and published evidence of global warming and rising surface temperatures. Then, along comes the U.S. National Oceanic and Atmospheric Administration (NOAA) to give a different view.

Calafia Beach Pundit | The CBP recognizes the difficulties of measuring global temperatures and that virtually all temperature data-sets have been extensively “adjusted” after the fact to correct for a variety of factors. The NOAA data are not adjusted; they are pure.

The NOAA began collecting data in the contiguous lower 48 states in the USA in 2005. They set up their stations in generally remote areas, far away from large cities and urban areas that could impact their temperature readings. With 14 ½ years of unadjusted data, they found that the amount of warming in the Lower 48 was statistically insignificant.

The following chart was created by the CBP from NOAA data:

The CBP goes on to say (somewhat paraphrased): The green line in the chart above is the best-fit trend line, and it shows that U.S. temperatures have increased by about 0.6ºF per decade, or roughly 0.06ºF per year. In addition, U.S. temperatures have been below average for most of the past year at a time when headlines trumpet soaring global temperatures.

If U.S. temperatures have barely increased at all over almost 15 years, then it is unlikely that global temperatures have increased by much more, if at all, because air does circulate around the globe. Climate skeptics have here one justification for being skeptical of those who warn that man-made global warming is an existential threat.

You can read this article on Scott Grannis’ blog by clicking HERE

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The Calafia Beach Pundit is Scott Grannis, who regularly writes an insightful and informative economic-oriented blog. Scott was Chief Economist from 1979-2007 at Western Asset Management, a Pasadena-based, global manager of fixed-income portfolios for institutional clients.

About Bob Weir 3242 Articles
Bob Weir has over 50 years of investment research and analytical experience in both the equity and fixed-income sectors, and in the commercial real estate industry. He joined eResearch in 2004 and was its President, CEO, and Managing Director, Research Services until December 2018. Prior to joining eResearch, Bob was at Dominion Bond Rating Service (DBRS).