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That's a lot of money.

I think I'll have to convert it into currencies I can understand. $1,600,000,000,000=16000 Gripen fighter jets=320 big nuclear reactors=3,2 times the GDP of Sweden.

That is, this is a sh*tload of money.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Tue Mar 25th, 2008 at 08:40:28 AM EST
[ Parent ]
It's not $1.6tn, it's $1.6tn over 5 years or $320bn/yr.Jerome a Paris:
The US may need to spend $1,600bn in the next five years
That's about 3% of US GDP. Not an unreasonable Keynesian stimulus plan.

It'd be nice if the battle were only against the right wingers, not half of the left on top of that — François in Paris
by Carrie (migeru at eurotrib dot com) on Tue Mar 25th, 2008 at 08:55:43 AM EST
[ Parent ]
It's still immense. Consider what a huge effort it would be if the US built 320 big reactors at $5 billion each over the next 5 years.

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Tue Mar 25th, 2008 at 09:04:10 AM EST
[ Parent ]
3% of US GDP is immense in absolute terms, yes, but not in relative terms.

It does represent a few million jobs, though, maybe shaving a couple of percentage points from unemployment figures.

It'd be nice if the battle were only against the right wingers, not half of the left on top of that — François in Paris

by Carrie (migeru at eurotrib dot com) on Tue Mar 25th, 2008 at 09:49:25 AM EST
[ Parent ]
I guess that's what gives me hope on the energy issues. Even if we need to spend trillions, that'll just be a tiny part of the GDP over the next decade or three.

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Tue Mar 25th, 2008 at 09:57:48 AM EST
[ Parent ]

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