The cost of building sea barriers that would protect New York City and parts of New Jersey from storm surges is likely to run as high as $23 billion, according to the scientist commissioned by New York City to study how it might respond to the extreme weather events and rising sea levels brought about by climate change. The estimate has caused sticker shock among some elected officials, most notably New York City Mayor Michael Bloomberg. But in the aftermath of Superstorm Sandy, support is forming for close scrutiny of the likely costs and benefits of constructing sea barriers in New York Harbor. Go to story #1

President Obama revealed yesterday that he's searching for ways to address climate change in his second term by planning meetings with scientists and experts weeks after a re-election campaign in which he said very little about the topic. But when asked directly about taxing carbon, he declined to endorse the idea, which has gained traction among a handful of conservative think tanks and free-market groups as a source of revenue that might help close the deficit. Go to story #2