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I actually think the greenhouse effect is good.  It would be warmer by 4
degrees in the arctic region, but only about a degree warmer in the tropic
and the northern latitudes. It has happened many times before in the
past, and the idea of "runaway" tropical heat is conjecture. It would
allow planting to a much higher latitude, thus producing much more food,
and make the sub-arctic liveable by bringing it into a temperate zone of
weather. Today Canada can produce 3 wheat crops in a year (whereas the
Midwest cannot), but the amount of arable land is limited by the sub-artic
temperatures (not by the amount of light). It would probably increase the
production of food crops in Canada, Russia, and Siberia by a thousand
fold.

And I certainly have no problem when it comes to carbon dioxide. It would
make plants everywhere greener and more productive (as can readily be seen
in big cities today) thus producing more oxygen (although it is unlikely
we will ever run out of oxygen anyway). 

Additionally, today most all of the excess carbon dioxide seems to be
disolving into the oceans, where it is used by plankton. This might
increase fish crops and also the amount of oxygen produced. The only
oceanic limitation of the greenhouse effect is that the highly oxygenated
oceans would be moved closer to the poles. Thus whales would have longer
treks in migration, and much of the crop fish would also move closer to
the poles.

But, on the other hand, greenhouse conditions of the past seem to have had
smaller effects on ocean temperatures, although it would most likely melt
much of the Greenland glacier, and to a lesser extent (because of the
polar location) the Antarctic glaciers, with the attendent loss of
valuable property in NY State -- well, over the course of several hundred
years or so.

On the other hand, it seems that the weather was much less extreme and
severe during the last greenhouse condition (12,500 BC to 3000 BC).
Boating would be easier, storms would be milder, and increased rainfall
would happen (as it did) at the lower middle latitudes, greening up the
Sahara again, and the Gobi, Kalihari, American SW, the deserts of Peru,
and the Great Desert of Australia.