CO2 Sensitivity and Climates of the Past As the potential impacts of anthropogenic warming have become clearer, paleoclimate studies have become less focused on understanding climate in Earth history per se, and more geared toward identifying processes and impacts that could come into play and affect modern society over the coming centuries. To that end, past warm intervals such as the Pliocene and Eocene have become become magnets for proxy studies, mostly geochemistry-based, designed to quantify a variety of climate indicators (e.g., SSTs, terrestrial temperatures and precipitation) as well as past levels of CO2. Underlying these efforts is the assumption that CO2 is the main internal driver of Earth's climate, and that the relationship between CO2 levels and global climate conditions has a certain sensitivity. In this talk, I'll review how and what we know about the relationship between past CO2 levels and climate, how well we know it, and the results of some recent work on the Pliocene that suggests (perhaps not surprisingly) that CO2 and climate sensitivity may be a more complicated matter than previously thought. This latest study also raises the question of whether we are missing part of climate's "big picture" that's needed for future climate work.