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It is hard to imagine that Mayor Bloomberg has time to think about politics right now, but he announced Thursday that he is endorsing President Obama for re-election. And he announced the endorsement in an op-ed published in Bloomberg News. The piece is titled "A Vote for a President to Lead on Climate Change".

The mayor says the devastation from Hurricane Sandy has brought the stakes of Tuesday's presidential contest into sharp relief. He says that the climate is changing and the increase in extreme weather should compel all elected officials to take action.

In comparing Republican presidential candidate Mitt Romney with President Obama, the mayor wrote, "One sees climate change as an urgent problem that threatens our planet; one does not. I want our president to place scientific evidence and risk management above electoral politics."

The mayor also cited President Obama's support for abortion rights and gay marriage -- positions that Mayor Bloomberg shares with the president.

In a statement, President Obama said he is honored to have the mayor's endorsement. He said that while he and the mayor may not agree on every issue, they agree that climate change is a threat.

Mayor Bloomberg did not endorse in the presidential race four years ago. Throughout the campaign he has been critical of both candidates, saying they are not talking about key issues like gun control and immigration reform.

NY1 will have more on the mayor's endorsement and the rest of the news on the campaign trail on "Inside City Hall" at 7 and 10 p.m.