He’s employing very unsophisticated game theory, and as such there is a large flaw in this logic that has been pointed out to him numerous times. He does not ascribe percentages to each outcome.

Example: A giant volcano could erupt from the Yellowstone caldera and annihilate most life on this planet. Why are we not preparing for this? Because it is a very, very low percentage event and putting money towards it makes no fiscal sense. If we prepared for every possible adverse outcome, we would be bankrupt rather quickly.

The key is determining the likelihood of cataclysmic warming and making political decisions based upon that likelihood.