September 1, 2008
High oil prices have unleashed a flood of venture capital and creative genius on the problems of energy and global warming. Hardly a day goes by without another credible breakthrough in turning sun, wind, waves, water and who-knows-what into useful energy. Even if the vast majority of those ideas don’t pan out, the surviving ideas will probably be enough to make oil obsolete. That’s my guess anyway. And I think it will happen at Internet speed when it finally ramps up, not the usual fifty year horizons you always hear about.
The thing I wonder is whether the government has any useful role in fostering these advances, other than staying out of the way. You hear the candidates for president talking about encouraging this, or incenting that, or catalyzing whatever. But when billions of dollars of profit are on the line, does anyone need any extra incentive? I doubt it. The market should be taking care of that stuff, and seems to be moving in the right direction.
What can a president do to make any difference in the energy situation? Be specific. Discuss.