On Monday, Rupert Murdoch's Fox Business Network exploited the one-year anniversary of Hurricane Sandy to promote the conspiracy theory that climate science is a liberal fiction. Referring to the catastrophic storm, Fox Business anchor Stuart Varney railed against the "global warming agenda" of the "mainstream media."
Varney's guest, the conservative Media Research Center's Dan Gainor, complained that of the 32 segments in network news his group found that mentioned Sandy and global warming, only two questioned the overwhelming science that the increasing greenhouse effect from the combustion of fossil fuels is accelerating sea level rise and making weather more extreme and chaotic.
Despite numerous scientific attribution studies on wildfires, heat waves, droughts, and storms that have found global warming fingerprints, Gainor falsely claimed that "we cannot link climate change or global warming to a specific event." He furthermore dismissed the decades of work by thousands of scientists in all earth-science disciplines that provide our understanding of climate change as "stuff" and "guesswork."
Gainor did not emphasize that his organization found only 32 mentions of climate change and Sandy in an entire year of network news coverage. (In contrast, for example, there were 52 segments on Iran's nuclear program in five months of network news coverage from November 2011 to March 2012.)
Climate denial is rampant in the financial press, not just the media organs owned by Murdoch like Fox and The Wall Street Journal. Forbes regularly publishes climate-denial columns, and Reuters editors are openly hostile to climate science. And Comcast's CNBC features hosts such as Joe Kernen, who argues that the findings of climate science are a plot concocted by a "bonafide cult" of "enviro-socialists" and the "eco-taliban."
Varney and Gainor bemoaned as "media censorship" the public stand the Los Angeles Times has taken against global warming denial in its opinion pages. Over 25,000 people have signed a petition from climate accountability organization Forecast the Facts calling on the nation's other major papers, including The New York Times, USA Today, and The Washington Post, to follow suit.
The anemic response of Wall Street -- the Fox Business Network's primary audience -- to Hurricane Sandy's wake-up call on global warming has sparked debate. On Sunday, Forecast the Facts hosted a forum held in downtown New York City looking at the role of Wall Street in financing the climate change that threatens New York's future prosperity. The panelists of the Turning the Tide forum, including Center for American Progress senior fellow Bracken Hendricks, Tom Steyer adviser Kate Gordon, and New Economy Lab's James Slezak, discussed how the financial industry needs to reject the anti-scientific arguments pushed by Murdoch's media properties and the Koch brothers' network of politicians, think tanks, and advocacy groups.
Gordon cited the Risky Business initative, led by Steyer, Michael Bloomberg, and former Treasury Secretary Hank Paulson. The initiative, Gordon explained, is meant not only to provide an economic assessment of the risk exposure different companies and industries have to man-made global warming, but also to change the culture of the financial sector. With that goal in mind, influential Republicans and conservatives who accept the basic science of climate change have been courted.
Wall Street is at a crossroads, all the panelists agreed. On the path of fossil-fuel companies and climate deniers like New York City's richest man, carbon financier David H. Koch, lies accelerating sea level rise and intensifying storms that will swamp the islands of New York City. But the investors and analysts can choose another path, recognize the science, and invest in a sustainable, resilient future that will save their city.