>>CO2 is a coolant, not an insulator.
>>>Air without CO2 is more of an insulator than air with CO2.
G. V. CHILINGAR, L. F. KHILYUK, and O. G. SOROKHTIN, 2008, Cooling of Atmosphere Due to CO2 Emission, Energy Sources, Part A, 30:1–9, 2008 ISSN: 1556-7036 print/1556-7230 online DOI: 10.1080/15567030701568727
Introduction:
Traditional anthropogenic theory of currently observed global warming states that release of carbon dioxide into atmosphere (partially as a result of utilization of fossil fuels) leads to an increase in atmospheric temperature because the molecules of CO2 (and other greenhouse gases) absorb the infrared radiation from the Earth’s surface. This statement is based on the Arrhenius hypothesis, which was never verified (Arrhenius, 1896).
The proponents of this theory take into consideration only one component of heat transfer in atmosphere, i.e., radiation. Yet, in the dense Earth’s troposphere with the pressure pa > 0:2 atm, the heat from the Earth’s surface is mostly transferred by convection (Sorokhtin, 2001a). According to our estimates, convection accounts for 67%, water vapor condensation in troposphere accounts for 25%, and radiation accounts for about 8% of the total heat transfer from the Earth’s surface to troposphere.
Thus, convection is the dominant process of heat transfer in troposphere, and all the theories of Earth’s atmospheric heating (or cooling) first of all must consider this process of heat (energy)– mass redistribution in atmosphere (Sorokhtin, 2001a, 2001b; Khilyuk and Chilingar, 2003, 2004)...
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Conclusions:
...Accumulation of large amounts of carbon dioxide in the atmosphere leads to the cooling, and not to warming of climate, as the proponents of traditional anthropogenic global warming theory believe (Aeschbach-Hertig, 2006). This conclusion has a simple physical explanation: when the infrared radiation is absorbed by the molecules of greenhouse gases, its energy is transformed into thermal expansion of air, which causes convective fluxes of air masses restoring the adiabatic distribution of temperature in the troposphere. Our estimates show that release of small amounts of carbon dioxide (several hundreds ppm), which are typical for the scope of anthropogenic emission, does not influence the global temperature of Earth’s atmosphere.
(an interesting back and forth argument at link)
http://www.physicsforums.com/showthread.php?t=252066
Basically one problem with that claim. The thermal change in the bulk atmosphere means CO2 radiates more (in all directions). The downward radiation from the CO2 raises the effective atmospheric thickness and is not compensated by any adiabatic changes.