Int. J. Environ. Res. Public Health 2011, 8 986  The risk of catastrophic anthropogenic global warming appears to be so low that it is not currently worth doing anything to try to control it, including geoengineering. Keywords: environmental economics; climate change; economic benefits; costs; multidisciplinary; scientific method List of Acronyms AMO AR4 CAGW CO2 CSF °C 13C ENSO ERD EU GCM GDP GWP GHG IPCC MER PDO RCIO RT SRM TSI US US$ UN Atlantic Multidecadal Oscillation Fourth Assessment Report of the IPCC published in 2007 Catastrophic AnthropogenicGlobal Warming Carbon Dioxide Climate Sensitivity Factor Degrees Centigrade Isotopic ratio of 13C to 12C defined as the standard-normalized difference from the Pee Dee Belemnite (PDB) standard El Niño Southern Oscillation Exclusive Regulatory Decarbonization European Union General Circulation Model Gross Domestic Product Global World Output Greenhouse Gas (UN) Intergovernmental Panel on Climate Change Market Exchange Rates Pacific Decadal Oscillation Carbon Intensity of Output Residence Time Solar Radiation Management Total Solar Irradiance United States United States dollar United Nations 1. Introduction With the development of stated preference, travel cost, benefits transfer, and other techniques that do not require a full understanding of the physical science aspects of valuing environmental benefits, environmental economics has tended to pay less attention to these aspects. But this tendency has brought some problems as well as some benefits for environmental economists. These problems are particularly important in the case of economic analyses of multidisciplinary problems such as climate change. Economic analyses of environmental mitigation and other public policy issues can be much more useful if they critically examine what other disciplines have to say, insist on using the most relevant observational data and the scientific method, and examine lower cost alternatives to the