I found these comments by John Doerr on Green Tech interesting.
The notion that we need “reindustrialize” the planet matches my sense that the first industrial revolution was a hack that has no chance of continuing to scale or endure. Our next president must rearchitect markets so that “the right thing to do is the profitable thing to do, so that it becomes the probable thing to happen.”
“To get solutions that scale, we are going to have to find answers that are economic for all people everywhere. We are going have to use policy to harness innovation to make sure the right thing to do is the profitable thing to do, so that it becomes the probable thing to happen. There’s more money that flows through markets in a day than all the word’s governments in a year…
The energy market is $6 trillion. I like to say it’s the mother of all markets. Compared to that Internet, which is a big deal, this is much bigger, much more exciting. But the challenge is much larger. Going green–solving that problem will be largest transformation on the planet.”
Doerr said the entire planet needs to “reindustrialize” to adopt less-polluting forms of energy.
Many people have called for the equivalent of an Apollo Project or Manhattan Project in the United States to solve the energy challenge. But Doerr said that those, which were multibillion-dollar, single-government agency projects, “fail miserably to convey the size of the challenge.”
To underscore how little is being done at the federal level, he said government funding in U.S. research and development on renewable energy was less than $1 billion last year, while oil giant Exxon makes $1.1 billion in revenue a day…
He predicted that the three leading presidential candidates will address climate change regulation far more aggressively than the current Bush administration, which has opposed mandates and sought to stay outside United Nations-led climate talks.
Despite Doerr’s concern for inadequate action on clean energy, he touched on the question of an investment bubble in green tech. Overall, he said there isn’t a bubble, but he does see some problems.
“There’s too much money chasing too few good ventures, despite the size of this problem,” Doerr said.