Todd Zywicki, a bankruptcy professor at George Mason Law and blogger at the libertarian “The Volokh Conspiracy,” recently informed the world that while he has “no special knowledge” of whether global warming is occurring, if it is occurring he wonders why people aren't "buying up all the land 300 yards or so from the current beach, or wherever they expect the sea level to rise to in the future?” Todd goes on to ask: “Shouldn't Al Gore be cornering the market on coastal land twenty feet above today's sea level?”
Warminglaw then takes him apart. As I think one of the Volokh commenters notes (besides the issue of a 20 foot rise being exceedingly long term), near-beachfront property is still very expensive right now, while turning it into under-the-ocean property isn't so valuable. Guessing wrong on sea-level rise would have bad economic consequences.
Warminglaw finishes with this:
Why pick on Todd here at Warming Law? At the risk of ruining your day, dear readers, we feel compelled to note that Todd has lectured our federal judges on the economics of climate change at libertarian judicial seminars hosted by the Foundation for Research on Economics and the Environment (for the agenda, go here and scroll down). One can just imagine the rigorous, balanced, and thought-provoking economic analysis he presents to our federal judiciary.
Zywicki has made many, many appearances here at Volokh Corrections.