New research says global warming 'greatly exaggerated'

A panel who reviewed the data found that man-made global warming is more of a myth than a fact.

The work says the risk of the much talked about situation is very small and “embedded within the background variability of the natural climate system.”

Put more simply, its part of the ebb and flow of nature.

The study may help ease the burden on the heavily scrutinized fossil fuel industry.

Oil, gas, and coal producers have all been subjected to more and more environmental regulations making their cost of doing business rise quickly.

The work was done in response to a similar work done by the United Nations International Panel on Climate Change (UNIPCC.)

That piece found exactly the opposite, saying global warming was a large threat to the planet.

Nearly 50 scientists turned out the 1,000 pages in the study saying “this volume provides the scientific balance that is missing from the overly alarmist reports from the IPCC, which are highly selective in their review of climate science," the authors write.

The group behind the paper is the Heartland Institute. They say this work is not politically motivated saying it "has no formal attachment to or sponsorship from any government or governmental agency."

Backing up their findings are new satellite measurements of Arctic sea ice. That information shows the ice has actually increased this year.

Read the findings here.