This country runs on innovation. The American success story -- from Ben Franklin's bifocals to Thomas Edison's light bulb to Henry Ford's assembly line to today's advanced microprocessors -- is all about inventing our future. The companies we ran, Microsoft and DuPont, were successful because they invested deeply in new technologies and new ideas.
But our country is neglecting a field central to our national prospect and security: energy. Although the information technology and pharmaceutical industries spend 5 to 15 percent of their revenue on research and development each year, U.S. companies' spending on energy R&D has averaged only about one-quarter of 1 percent of revenue over the past 15 years.
And despite talk about the need for "21st-century" energy sources, federal spending on clean energy research -- less than $3 billion -- is also relatively small. Compare that with roughly $30 billion that the U.S. government annually spends on health research and $80 billion on defense research and development.
To read the full, original article click on this link: Bill Gates and Chad Holliday - Energy sector poised for innovation -- with the right spark
Author: Bill Gates and Chad Holliday
