01/09/2007 12:38 pm ET Updated May 25, 2011

Coastal Real Estate Prices and Global Warming

People still buy real estate that will be underwater in a few decades. Think about that.

The reason we don't take global warming seriously in America is because ExxonMobil has been spending millions and millions of dollars funding a PR campaign designed to shift our attention away from the problem. This has been very good for business for them, but it has caused each and every one of us to behave in ways that are counter to our OWN - and society's - interests.

One day this will change. One day the consequences of global warming will become too serious to ignore. One day ExxonMobil will stop paying the Competitive Enterprise Institute and the Center for Defense of Free Enterprise and Citizens for a Sound Economy and the American Enterprise Institute and the Frontiers of Freedom Institute and the Heritage Foundation and the Hoover Institution and the National Center for Policy Analysis and the hundreds of other right-wing "think tanks" they pay to tell us global warming is a hoax (read the report), and then the fog will start to lift and we will start to see the world as it is -- the "reality-based" world we live in rather than the one we see on TV.

Think about what will happen to real estate prices in coastal areas when we do start taking global warming seriously. How much will people pay for real estate that is going to be under water in a few decades?