You can see the evolution of the global warming argument in that acronym.
When it was just "global warming", the argument was basically "global warming is not happening".
Then, when it got too hard to sustain pure denial, they added "anthropogenic", so the argument became "OK, global warming is happening, but it's not us that's causing it"
Now we see "catastrophic" added and the argument morphs again: "OK we are causing global warming, but it's not going to be as bad as people say".
If things carry on like this, presumably the next letter will be "L" for "liable". LCAGW: "Ok, global warming might get pretty bad, but I don't see why I should have to pay for it"