I’m not sure Bill Gates realizes the sheer amount of idiocy he just spouted:
Bill Gates told an audience of energy entrepreneurs, scientists and investors at the ARPA-E energy conference on Tuesday that “It’s crazy how little we’re funding energy.” Energy research is underfunded by a factor of two, Gates said, referring to the amount of current U.S. government investment in energy research.
If only there was a source these energy companies could get funding from. What we really need is a multi-billionaire who is also an advocate of investing in energy companies. I wonder where we could find such a person?
Gates has expressed similar sentiments before. He is part of the American Energy Innovation Council, which about two years ago called for a government investment of $16 billion per year into basic research to deliver energy innovation. Since that foundation launched, he has said that he has been stunned that the government hasn’t been able to rise to the occasion.
$16 billion? It’s too bad we don’t know somebody who had an insane sum of money, say $59 billion, that could be invested into this market.