I know I hammer this home constantly, but it is often worth a reminder. The issue in the scientific debate over catastrophic man-made global warming theory is not whether CO2 is a greenhouse gas, or even the approximate magnitude of warming from CO2 directly, but around feedbacks. Patrick Moore, Greenpeace founder, said it very well:
What most people don't realize, partly because the media never explains it, is that there is no dispute over whether CO2 is a greenhouse gas, and all else being equal would result in a warming of the climate. The fundamental dispute is about water in the atmosphere, either in the form of water vapour (a gas) or clouds (water in liquid form). It is generally accepted that a warmer climate will result in more water evaporating from the land and sea and therefore resulting in a higher level of water in the atmosphere, partly because the warmer the air is the more water it can hold. All of the models used by the IPCC assume that this increase in water vapour will result in a positive feedback in the order of 3-4 times the increase in temperature that would be caused by the increase in CO2 alone.
Many scientists do not agree with this, or do not agree that we know enough about the impact of increased water to predict the outcome. Some scientists believe increased water will have a negative feedback instead, due to increased cloud cover. It all depends on how much, and a t what altitudes, latitudes and times of day that water is in the form of a gas (vapour) or a liquid (clouds). So if a certain increase in CO2 would theoretically cause a 1.0C increase in temperature, then if water caused a 3-4 times positive feedback the temperature would actually increase by 3-4C. This is why the warming predicted by the models is so large. Whereas if there was a negative feedback of 0.5 times then the temperature would only rise 0.5C.