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Speaking of "reality over fiction": Matt Simmons (top links) is saying 100 trillion dollars to rebuild energy infrastructure? Is that number right? Wouldn't that surpass suburbia as the greatest misallocation of capital ever? I'm floored. What is the "worth" of all human infrastructure on the planet?
cfm in Gray, ME
Simmons has been saying that for awhile, he mentions several times in Twilight in the Desert that there aren't enough rigs for the amount of drilling that will take place as depletion sets in using what happened in Texas as an example. (At least, I think so, maybe I'm misremembering.)
Regarding this:
If this is true, it looks like Simmons just might win his bet. I was skeptical he would but he's on track just now it looks like:
http://www.theoildrum.com/node/3738
and the post by Tierney:
http://www.nytimes.com/2005/08/23/opinion/23tierney.html?_r=1&oref=login