Over at Economics Unbound, Mike Mandel, my BW brother-in-blogging has started a ruckus with some eye-opening data on how far federal spending on energy R&D has fallen in the past decades.
The share of GDP going for federal R&D on energy, environment, and natural resources has been steadily falling over time, under both Democrats and Republicans, despite our energy worries…. In the private sector, the situation isn’t much different. The biggest energy companies are the oil companies, of course, and they are much more into exploration for oil and gas, rather than the development of alternatives.
Given the technological challenges facing us in addressing climate change, the implications here are worrisome. Should the government be spending more on these problems, or should the energy sector? Check out Michael’s full post here.