Very interesting rebuttal to the "high cost" arguments I endorsed recently in an article by Adam Stein on Grist.
I don't buy the argument that responding to climate change is "an opportunity" for society at large. An atmosphere sensitive to CO2 is worse than an atmosphere not sensitive to CO2. The "cost" may be exaggerated, but that doesn't make it cost-free or a small matter.
There are also reasons that it is very over-optimistic to set the rate of progress in information technology as achievable in energy technology. Joe Romm explains this repeatedly, e.g., here.
At least one huge cost at this point is pride though. The market libertarians will have a very hard time admitting that climate forcing is at the least an important exception to their principles. They have painted themselves into a corner, and the rest of us are sort of stuck there along with them.
They have recently been doing a really impressive job fooling themselves that the evidence is piling up on their side. They will, eventually, be genuinely surprised when the problem fails to go away. I wonder when the realization will set in. Alas, I am not holding my breath.