A paper published today in Geophysical Research Letters finds the oceans have warmed only 0.09°C over the 55 year period from 1955-2010.
According to the authors, this resulted in a sea level rise of 0.54 mm per year [only 2.12 inches per century] and corresponds to 0.39 Watts per square meter of the ocean surface. However, the IPCC claims the increase in CO2 from 1955-2010 ‘should’ have warmed the oceans by 1.12 Watts per square meter [5.35*ln(389.78/312) = 1.12 W/m2]. Thus, even if one assumes all ocean warming is due to increased greenhouse gases, the IPCC has exaggerated climate sensitivity to CO2 by a factor of almost 3 times [1.12/0.39]. [This is why Trenberth can't find his "missing heat"-it never existed in the first place]. In reality, greenhouse gases cannot warm the oceans at all because they radiate infrared which only penetrates the surface of water a few microns to cause evaporative cooling.