John Ransom has some interesting figures in his post today.
He said that the Department of Energy reported that the government has spent $174 Billion dollars on advance energy technology and the underlying science behind it. That is in inflation adjusted 2005 U.S. Dollars. That does not include the $35 Billion wasted on projects like Solyndra recently or the budgeted $27 Billion this year.
Our return on this huge amount of money is that only 4% of our energy is being provided by this ‘advanced energy technology’.
Isn’t it time to get busy developing proven energy resources and let evolution of the energy be driven by the old profit motive that got us where we are now?