In the recent past, the Precautionary Principle (PP) has come to achieve some prominence in environmental policy and law. But its rise has been met with two sharply opposing attitudes: some (usually pro-environment, and especially European) actors see it as a foundational principle to apply at all levels of environmental protection; but others (usually pro-business, and especially American) argue that it is hopelessly vague, stupidly myopic, and ultimately irrational. In this paper, I try to do two things. First, I argue that the dispute may be more apparent than real. Second, I illustrate this by a discussion about the role of precaution in climate policy. Third, I address some possible objections to this approach.