Our water crisis
This site keeps a variety of interesting stats on Sydney’s dam levels. The current projection is that we’ll have an empty dam by July 2009 (not accounting for any water restrictions that would be imposed well before then). It’s quite disconcerting that a Beta-class world city is in danger of simply running out of water. Of course, we’re lucky to be a city in a relatively affluent country with access to a variety of options to address this problem. However, the government seems to have a myopic aversion to spending money on infrastructure in general (transport, telecommunications, etc) and there’s been a lot of delay on selecting a course of action to take – whether to go with the recycled water or desalination plants.
11:17pm (GMT +11.00) 
Re: the government seems to have a myopic aversion to spending money on infrastructure in general
Assuming you mean the state government, remember they’ve had some recent bad experience with, eg, the cross city tunnel – it will be interesting to see how this plays out in the state elections later this year…