There are so many good ideas out there for energy; they just need funding. And when the price of gas or heating oil hits $5/gallon and moves north from there, they'll finally get it.
I'm glad this guy got funding; it's a clever idea that is doubly-attractive to potential customers (clean exhaust and make $$ at the same time). But even then it's only 11 million. Venture capitalists are only now starting to put real bucks into energy research. But like I said, five-dollar gas will help move that along.
Of course if we had a _really_ farsighted gov't, they'd be helping more. Private industry really only steps in to solve problems that are very likely to grow more acute quickly. You need gov't involvement for long-term planning.
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