Read here. Climate model predictions have proven to be utterly worthless and the newest evidence, as of December 2010, demonstrates they're getting no better. One of the grand failures has been Nasa's James Hansen's climate model predictions of ocean heat content growth. The model has ocean heat dramatically increasing as the red line in the chart below demonstrates. The actual heat content increase (decrease) is the blue line, which is literally flat.
The information represented in the chart is from the cutting edge, best-of-breed (Argo) technology specifically developed for ocean climate measurements.
(click on image to enlarge)
From Bob Tisdale: "...it is very obvious that ENSO and the distribution of warm and cool waters caused by ENSO are major components of Global Ocean Heat Content (OHC).....OHC studies such as Hansen et al (2005), however, do not include ENSO in their models. They assume that Anthropogenic Greenhouse Gases have a measurable impact on Ocean Heat Content. The impacts of the failure of GISS to include ENSO and other natural variables in their analysis was illustrated and discussed in detail in Why Are OHC Observations (0-700m) Diverging From GISS Projections?"
Other prediction-failure and climate-model postings; additional charts - modern and climate model.