Naw,
this is fearmongering at it's finest. Notice how FOX covers the story in such a serious manner. Please, guys, watch it once and then tell me what the cop said.
The fact is that there are too many people making too much money with the system the way it is. Change means uncertainty and uncertainty impedes profit. Thus, there are many corporations with a vested interest in sowing uncertainty about global warming. Adapting to changing policy is not as profitable as charging headlong into certain disaster.
So here's a stock tip: Now that FEMA is out of the way, halliburton has aligned itself as the premier American disaster management company. The more disasters we have, the more profitable they become. And now so can you.