So, for the record, what does Lindzen actually believe? This is how Lindzen responded to Annan: "The quote [at Reason Online] was out of context. I think the odds are about 50-50. I said that if anyone were willing to give warming much higher odds than that, I would be tempted to take the bet." Lindzen and Annan subsequently haggled a bit over what would be a fair bet. From Lindzen's point of view, any such bet would be between people like Annan, who are convinced by climate model projections that average global temperatures should be increasing about 0.3C per decade, and people who think it's even odds that temperatures will be lower than they are now in 20 years.
Setting aside the bet that global temperatures will be lower in 20 years, Lindzen offered Annan an alternative bet. If the temperature change were less than 0.2C, he would win. If the temperature change were between 0.2C and 0.4C the bet would be off. And if the temperature change were 0.4 or greater, Annan would win. He would take 2 to 1 odds. After all, Lindzen is on record as saying that global average temperatures could rise by 1 degree Celsius over the next century. In contrast, climate model projections predict a warming of 1.4 to 5.8 degrees Celsius by 2100, though a new study in January suggested global warming could be "Twice as Bad as Previously Thought," with an upper projection of average global temperatures reaching 11 degrees Celsius.
Annan then countered with a bet pegged to some agreed upon average temperature in 20 years with payouts based on how many hundredths of a degree Celsius the loser was from the agreed upon temperature. Lindzen responded by skeptically asking how one would accurately measure hundredths of a degree Celsius on a global level. Their negotiations apparently ended there and, at least on the part of Annan, the blogging began.