If the world is at or near the peak in production of cheap oil, then isn't it clear that there won't be the money for multiple rebuildings of New Orleans?  In fact, it's arguable that there already isn't the money for the combination of 1) multiple tax cuts, 2) an invasion, occupation, and rebuilding of Iraq, and 3) rebuilding of the Gulf coast.
Don't worry, they have already more or less axed one of those, the rebuilding of Iraq.
well, ok, just so long as they don't roll back those tax cuts.

Krusty the clown: "Well, he framed me for armed robbery, but man, I'm aching for that upper-class tax cut."  [votes for Sideshow Bob]

Did I say more or less? Read completely
http://www.guardian.co.uk/Iraq/Story/0,2763,1676911,00.html