Solar Superstorms and IT BC/DR

Very interesting research paper with a scary title “Solar Superstorms: Planning for an Internet Apocalypse“. It is about a Black Swan event which has actually already happened in 1859, a major solar Corona Mass Ejection (CME) which has some chance to happen in the next future. Without entering in any detail (the research paper is quite readable) the main point is that if a CME of 1859’s magnitude would hit earth today, the consequences would be catastrophic.  Apart from the impacts on the electric grid, and in particular to the long distance power distribution (but power operator should be aware of this threat), the research paper points out that there would be severe damages to satellites, in particular low-orbit ones, with possible total failure of satellite communication including GPS, television broadcasting and data (internet) transmission. But equivalently at risk are long distance communication cables, more noticeable submarine optical fibre cables. Actually, optical fibres per se would not be affected, but optical repeaters along the fibres at distances of 50 – 150 km at the bottom of the oceans would burn out and stop almost all communication between continents.

I remember years ago discussing a similar scenario with some physicist friends and wondering if it could have been a threat or not. It seems that it can be, but is the cost of mitigating this threat worth it?  Should we act today?