Someone in Silicon Valley Will Fix This

What kinds of technologies are contenders for a global energy strategy?

Short term, the most feasible energy export is efficiency. China is very inefficient. It uses 4.5 times as much energy as the United States for every dollar of output. This explains why China is the world’s second-biggest energy consumer but at the same time why selling them more efficient technology could have a big impact on global energy use.

These exports would probably be very profitable. Japan (their economy is nine times more energy efficient than China) sees enormous economic opportunity in selling its expertise to China. America could tap into these opportunities also as long as the technologies receive the necessary support.

The volume of venture capital being poured into energy-technology companies is at an all time high. Most of this capital is flowing into known technologies that have a rapid and assured payoff, however. The more speculative technologies are not receiving much attention. It used to be that America compensated for investor reluctance with federal money. Although President Bush often promises to spend more on alternative energy, little money is appearing.