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What about global cooling?

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With all the hysteria about global warming and the impact that it will have on the globe, I found it quite funny that the National Oceanic and Atmospheric Administration (NOAA) reported yesterday that we just experienced the coldest winter since 2001. Hey Al Gore -- how can that be? I remember when I was growing up, in the mid- 1970's, Newsweek magazine had a cover story about the beginning of the ice age. Amazing what can happen in 25 years. We can go from an ice age, to global warming. Not bad.

According to the NOAA report:

"In the contiguous United States, the average winter temperature was 33.2°F (0.6°C), which was 0.2°F (0.1°C) above the 20th century average – yet still ranks as the coolest since 2001. It was the 54th coolest winter since national records began in 1895. "

Why not ask the Chinese about global warming? They just experience a horribly snowy winter which has been a major cause of inflation. Extreme cold temperatures were the norm this winter. Over the last 150 years or so the global mean temperature has increased by 0.7 degrees Celsius. This small amount of warming is not unusual, and falls well within the range of variation for both warming a cooling.


Could it be that this whole hysteria is just another way to try and redistribute the wealth? Increasing taxes, making the US less competitive economically so that the third world can try and catch up?

With the global economy experiencing a slowdown, how about a bit of perspective on the issue of global warming. Just look at the whole ethanol movement. It basically does nothing for the environment but because of subsidies given out to farmers, we now have surging food prices across the globe. Maybe if we can reverse some of the legislation that is leading to the economic slowdown, we can get back to enjoying economic growth.

As one of my favorite economists Thomas Sowell wrote: " Global warming" is just the latest in a long line of hysterical crusades to which we seem to be increasingly susceptible."

How about some perspective?

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer's fund has no position in any stock mentioned, as of 3/14/08.

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Last updated: November 10, 2009: 10:43 AM

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