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The Paleocene – Eocene Thermal Maximum of 55. 8 mya was a significant global warming event.
However, since the Azolla event of 49 mya, the Cenozoic Era has been a period of long-term cooling.
After the tectonic creation of Drake Passage, when South America fully detached from Antarctica during the Oligocene, the climate cooled significantly due to the advent of the Antarctic Circumpolar Current which brought cool deep Antarctic water to the surface.
The cooling trend continued in the Miocene, with relatively short warmer periods.
When South America became attached to North America creating the Isthmus of Panama, the Arctic region cooled due to the strengthening of the Humboldt and Gulf Stream currents, eventually leading to the glaciations of the Pleistocene ice age, the current interglacial of which is the Holocene Epoch.

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