AAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!

Entitled "Severe Space Weather Events — Understanding Societal and Economic Impacts," it describes the consequences of solar flares unleashing waves of energy that could disrupt Earth's magnetic field, overwhelming high-voltage transformers with vast electrical currents and short-circuiting energy grids. Such a catastrophe would cost the United States "$1 trillion to $2 trillion in the first year," concluded the panel, and "full recovery could take four to 10 years." That would, of course, be just a fraction of global damages.

Needless to say, shorting out the electrical grid would cause major disruptions to developed nations and their economies.

Worse yet, the next period of intense solar activity is expected in 2012, and coincides with the presence of an unusually large hole in Earth's geomagnetic shield, meaning we'll have less protection than usual from the solar flares.

The report received relatively little attention, perhaps because of 2012's supernatural connotations. Mayan astronomers supposedly predicted that 2012 would mark the calamitous "birth of a new era."

But the report is credible enough that some scientists and engineers are beginning to take the electromagnetic threat seriously. According to Lawrence Joseph, author of "Apocalypse 2012: A Scientific Investigation into Civilization's End," "I've been following this topic for almost five years, and it wasn't until the report came out that this really began to freak me out."

Wired.com talked to Joseph and John Kappenman, CEO of electromagnetic damage consulting company MetaTech, about the possibility of geomagnetic apocalypse — and how to stop it.