If some of the more notorious emails are genuine, this casts some doubt on the credibility of some members of the proportionally small number of scientists who are involved in the compilation and analysis of global climate data. And that's all that can be said, really; "climategate" does not amount to a refutation of the science that has been devoted to this issue--rather, it seems like a series of stuff-ups in communication, protocol and judgement by relatively few individuals.
It is not a good look for them, of course, and sucks a lot of oxygen (!) from their campaign.
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