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Very little, actually. A comet has essentially no effect on the Earth, unless it actually HITS the Earth. When that happens, the effect will depend on the mass of the comet, but we do believe that this was probably what killed off the dinosaurs - and most other large animals on Earth - 65 million years ago.

It HAS happened before, with catastrophic effect. It WILL happen again - if we're not ready to prevent it.

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