Given the poor quality of most statistical studies of climate change, I'm not surprised by the conclusion: anyone needing a rationale for more taxes is cheering right now. Sadly, Mr. Stern hasn't properly researched the economic effect of higher taxes, but then, that might be controversial. Global Warming is safer. Besides, you can ignore prior research if it contradicts your own. I was more impressed by the prior report at least partly because it was available to review.
But now I know how to respond to the cries of "oh No!" Calmly. Changes of two to three degrees are rather mild: it changes more between my house and outdoors.
UPDATE: Thanks to alert reader CCORD (check out the comments for a link to his website), here is the link to the Stern Report. Further updates as I digest this monster.
OTHER UPDATES: Arnold Kling is first on the scene, with Tim Worstall gamely tryingto catch up with more details , and the ever popular Bjorn Lomborg and the Wall Street Journal, one who has the statistical background, and the other with an economic background. Finally, a really thoughtful discussion of the area, for those interested.
I think, with that, I will close the issue: Stern Report: DOA.
Last Hurrah: Marginal Revolution has a few points, too. And he is kinder to the report.