Many scary stories have been written about the dangers of catastrophic global warming, allegedly due to increased atmospheric concentrations of the greenhouse gas carbon dioxide (CO2) from the combustion of fossil fuels. But is the world really catastrophically warming? NO. And is the warming primarily caused by humans? NO.

Since just January 2007, the world has cooled so much that ALL the global warming over the past three decades has disappeared! This is confirmed by a plot of actual global average temperatures from the best available source, weather satellite data that shows there has been NO net global warming since the satellites were first launched in 1979.

Since there was global cooling from ~1940 to ~1979, this means there has been no net warming since ~1940, is spite of an ~800% increase in human emissions of carbon dioxide. This indicates that the recent warming trend was natural, and CO2 is an insignificant driver of global warming.

Furthermore, the best fit polynomial shows a strong declining trend. Are we seeing the beginning of a natural cooling cycle? YES. Further cooling, with upward and downward variability, is expected because the Pacific Decadal Oscillation (PDO) has returned to its cool phase, as announced by NASA this year.

LONDON - Lehman Brothers shut down its carbon emissions trading desk after the bank filed for bankruptcy protection, a source close to the company told Reuters on Monday.

"Everything's stopped, blocked ... it's a bit anarchic," he said.

Lehman declined to comment on the matter.

Al Gore's carbon trading business GIM was banked with Lehman Bros. It will be interesting to see how this will play in the future but I suspect that this increases the risk of participating in Carbon trading. Merrill Lynch was also deeply involved in this business.

Last year Lehman Brothers released a long and highly publicized report about climate change in which they preached about decarbonization, trying to make their investors keep getting high profits from the Kyoto carbon trade scheme and the support of huge public subventions. All that, of course, with the applause of the usual choir of politicians, the entire media and the Greens.

Last year Lehman Brothers released a long and highly publicized report about climate change in which they preached about decarbonization, trying to make their investors keep getting high profits from the Kyoto carbon trade scheme and the support of huge public subventions. All that, of course, with the applause of the usual choir of politicians, the entire media and the Greens.

A year ago they couldn't predict their bankruptcy but were predicting the climate 100 years ahead. Thousands of green militants have been using the Lehman report as a proof of global warming and impending chaos. Lehman Bros said it! sacred words! Its scientific advisor is James Hansen!

Cross Posted at Power and Control