While I think Dana's article overall is good, I think he missed the mark on several of his criticisms of the D-O events as related to the current warming. I actually commented as much on the original posting of the article (commenter RobertS), but they appear to have gotten lost in his link.
To answer your questions
1) They are real events, but there is conflicting evidence as to whether or not they are actually driven by a periodic forcing. See [1] and [2].
2) Scientists are unsure of their underlying cause at this point, but several recent articles (e.g. [1] and [2] again) argue that they are purely noise driven; i.e. no underlying periodic component. Their cause could range from things like the a sudden largescale influx of freshwater due to the breaking of an ice dam (e.g. Lake Agassiz), or a comet impact, as is a suggested mechanism behind the Younger Dryas event.
The fact is that the D-O events are likely unrelated to a underlying periodic forcing, as many so-called "cycles" were missed altogether during the last glacial period, and their interglacial counterparts (Bond events) have been virtually nonexistent. If a periodic component did exist, due to the reasons stated above, its magnitude must be so small as to render it nearly undetectable. This is the position taken in several previous studies which model the D-O events using stochastic resonance, whereby a *very* weak signal is greatly amplified by noise to send the climate over a particular threshold (see [3]).
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Ah, thanks Dana.
Jim,
No, I am not suggesting that D-O events are due to "quasicyclical comets or periodic freshwater flushing". Comet impacts and glacial dam bursting are but two examples of mechanisms that could cause the abrupt climatic shifts seen during the last glacial. I specifically stated that I believe D-O events unlikely to be related to a periodic forcing, but if they did contain a truly periodic component, the signal must be immeasurably small. That so-called "Bond events" have been virtually absent from the proxy record indicates either that 1) There is no real 1500 year cycle, or 2) the stability of interglacials preclude them from effects of any underlying signal, which must necessarily be non-terrestrial in origin. In any case, D-O "cycles" have nothing to do with the recent warming.
Sources
[1] Ditlevsen et al. (2005), "The Recurrence Time of Dansgaard–Oeschger Events and Limits on the Possible Periodic Component". Journal of Climate.
[2] Ditlevsen et al. (2007), "The DO-climate events are probably noise induced: statistical investigation of the claimed 1470 years cycle". Climate of the Past.
[3] Rahmstorf&Alley (2001), "Stochastic Resonance in Glacial Climate ". Eos.