Quote:
Originally Posted by dc_dux
It is absolutely a "government lead advance".....the federal government is the major source of funding for applied R&D. I would suggest that is much more than "heping as a sponsor"
Just one example:
I agree its a great use of federal money.....but hardly fits within the model of a true "free market"
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Ummmmm
Quote:
Oil and Gas Industry Investment in Emerging Energy Technologies
To help meet projected U.S. energy demand growth of 34% in the next two decades,
U.S. oil and gas companies invested $98 billion from 2000 through 2005 on emerging
energy technologies in the North American market3 (Figure ES-1). This expenditure is
73% of the estimated total of $135 billion spent by U.S. companies and the Federal
government. Of the industry investments, $86 billion (or 88% of the $98 billion total)
were directed toward frontier hydrocarbons. The ability of major oil companies to
upgrade inferior grades of oil (tar and oil sands, heavy oil) into refinery feedstock, and to
turn waste and residue hydrocarbons (gasification including hydrogen production) into
high-value products, is a natural extension of the industry’s expertise.
Yet, U.S. oil and gas industry investments go beyond frontier hydrocarbons. In addition,
the industry invested $11 billion (or 11% of the $98 billion total) for advanced end-use
technologies, mostly for efficiency improvements through combined heat and power
(cogeneration) and for advanced-technology vehicles using fuel-cell technology.
Significantly, this $11 billion investment in end-use technologies represents 35% of the
estimated total amount ($31 billion) spent by U.S. companies and the Federal
government in this area.
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I'll see your 300 million and raise you 10.7 billion.
or in this graph....
I'll see your 5 billion and raise you 124 billion.
I don't MIND the government spending that 5 billion, its a good use of government money even if most will result in naught, its worth the risk, but this is really private sector led.