Peak Oil Solution: The Simmons Plan

Well get ready for the Simmons Plan. This iteration has been hatched by Houston investment banker and Peak Oil worrywort Matt Simmons. The gist: 1. build the world’s biggest windfarm off the windy coast of Maine. 2. Use the electricity generated to desalinate and deionize sea water. 3. Use that water, plus electricity and air, to manufacture ammonia. 4. Pipe the ammonia to shore and use it to power a new generation of cars.

The cost: $25 billion. “It sounds like a snake oil project, I know,” said Simmons at a reception in Houston Tuesday night. But he’s earnest. He truly believes that within a decade or so the world will face a crushing shortage of oil, sending the price of crude towards $500 a barrel and crippling the global economy.

Forbes