Judith Curry doesn't understand risk. But it wasn't always so. Check out this 2007 WashPo op-ed:
Think of risk as the product of consequences and likelihood: what can happen and the odds of it happening. A 10-degree rise in global temperatures by 2100 is not likely; the panel gives it a 3 percent probability. Such low-probability, high-impact risks are routinely factored into any analysis and management strategy, whether on Wall Street or at the Pentagon. The rationale for reducing emissions of carbon dioxide is to reduce the risk of the possibility of catastrophic outcomes. Making the transition to cleaner fuels has the added benefit of reducing the impact on public health and ecosystems and improving energy security — providing benefits even if the risk is eventually reduced.Hard to believe someone so smart has made themselves, in four short years, so dumb.