Guest post by Tamino
In a paper, “Heat Capacity, Time Constant, and Sensitivity of Earth’s Climate System” soon to be published in the Journal of Geophysical Research (and discussed briefly at RealClimate a few weeks back), Stephen Schwartz of Brookhaven National Laboratory estimates climate sensitivity using observed 20th-century data on ocean heat content and global surface temperature. He arrives at the estimate 1.1±0.5 deg C for a doubling of CO2 concentration (0.3 deg C for every 1 W/m^2 of climate forcing), a figure far lower than most estimates, which fall generally in the range 2 to 4.5 deg C for doubling CO2. This paper has been heralded by global-warming denialists as the death-knell for global warming theory (as most such papers are).
How does anthropogenic global warming (AGW) affect me? The answer to this question will perhaps be one of the most relevant concerns in the future, and is discussed in 

