Now we have Bill Gates joining our choir - will anybody listen? Point of NO return in climate change is already in sight and there is NO cheap Oil left any more, according to IEA. China invests billions in Renewable Energy, New Energy Transportation and US is drowning in Debt. Instead of Marshall plan to quit Oil addiction after 9-11 US has decided to fight wars to keep addiction supplied. With trillions spent on wars - instead of building new Energy Transition technologies like Electric Cars, Wind and Solar - US now faces the very tough choices sitting on 15 Trillion of Debt. We truly hope that Iran Oil liberation is not one of them. Our broken society will not recovery after another failed "Blitzkrieg".
"We have the acknowledged problem now - NO more cheap Oil left, and we have the solution - technology with the magnitude of the Internet with another zero - Electric Cars. We need the Marshall plan now for Electric Cars."
IEA: World Energy Outlook 2011: Crude could reach $150 and warns of Irreversible Climate Change in Five Years"We are just coming out of the "Europe's End of The World" scenario, all world economies are on the edge of recession, but Oil is moving closer to $100 again. We have a very sobering reminder from IEA about the real issues behind all recent events in the financial markets. There is NOT enough Oil for everybody left, Peak Oil is all about the price and transportation is driving this demand with half of the global oil demand coming from China only. By 2015 more cars will be manufactured outside of OECD. Oil prices can go up to $150 by 2015 in the real terms and $176 in the nominal terms. It will be the major risk for the global economy. Time is to check your Lithium portfolio."
Microsoft chairman warns US has "no option" but to boost investment in clean energy
By BusinessGreen staff 21 Nov 2011
Bill Gates has urged the US government to triple its investment in green technologies to $16bn annually, warning the country is lagging behind China, France and Canada in its efforts to develop a low-carbon economy.
Writing for the journal Science on Friday, the Microsoft chairman said the US government should restore investment in energy research and development, which has fallen to $5bn a year during the past three decades.
Citing a recent report by the American Energy Innovation Council, Gates said the government could pay for the increased investment by reducing or eliminating current subsidies to well-established energy industries, diverting a portion of royalties from domestic energy production, collecting a small fee on electricity sales, or imposing a price on carbon.
"Any combination of these could provide the funds needed to increase energy innovation," he said.
Gates argued that the US government had "no option" but to increase its investment in clean energy technology because fossil fuels are prone to extreme price fluctuations and are a cause of global warming.
He warned that the US is losing out in the race to develop a low carbon economy, as it spends around $1bn per day importing oil, while countries such as China, Germany, Japan and Korea are making large investments in clean energy technologies.
"The creation of new energy products, services and jobs is a good thing wherever it occurs, but it would be a serious miscalculation if America missed out on this singular opportunity," he said."