Venus Project

Zeitgeist 2 mentions the Venus Project which proposes the world can be run on solar, wind, tidal and geothermal power, with electric cars and maglev trains for transportation, and unlimited abundance of food, shelter and basic needs by eliminating scarcity.  Technology would handle 90% of labor, while technology itself improves to be more and more efficient because it won't rely on money or competition, but instead payment will consist of warm happy thoughts and paintings. 

So what are some flaws in the idea that there is enough energy, food, and advanced technology for everyone in a society relying on resource and energy abundance without using money as a competitive incentive?  Could Intel create better CPUs by being paid in happy thoughts?

http://video.google.com/videoplay?docid=7065205277695921912
http://www.thevenusproject.com/getInvolved.html