THE SEARCH FOR AN ENERGY MIRACLE!
Energy Industry Needs To Be Transformed Quickly Says Bill Gates
Photo Source: The Atlantic
Photo Source: Wikimedia
Photo Source: Business Insider
Bill Gates is on a crusade. He believes we must accelerate the world’ s transitionfrom carbon based energy to a much more natural and eco-friendly basedenergy, and fast. This is, if we want to avoid the worst outcome of a worldwarming by up to 2 degrees, every 10 years. To make this possible, he believesby 2050 the wealthy nations of China, USA and Europe should not be adding any more carbon to the environment. A very noble sentiment but how will you change an industry that accounts for about 30 trillion dollars a year?
Bill Gates believes the rate of technological innovation is slowed down by simple economics; there is simply no profit in innovation. It’ s simply better to follow the“ tried and tested” methods that everyone thinks will result in the ultimate aim, and that is profit. Perhaps in order to seek an answer we should look back on how the problem was created in the first place. Back in the late 19th century, John D Rockefeller was looking for a use for an unsightly byproduct of kerosene production, which was usually discarded in rivers and pits. The stuff stank and was highly flammable. If it slicked on the surface of a river, hot coals from a paddle steamer could ignite it. The unsightly byproduct was gasoline, and when automobiles and airplanes were invented, a consumer market emerged for- Rockefeller.
In an interview with The Atlantic, Bill Gates believes the best way to stimulate innovation is to fund it. With this in mind, he has pledged two billion dollars to assist in researchand development toward a number of causes, mostly for environmentalcauses. But will this be enough? My suspicion is probably not. Thankfully, there are more efficient technology that consumes less are already available in the market. This may be a good start. In recent years we have seen the development of LED lighting, more efficient cars and planes and of course the commercialization of electric cars by one Elon Musk. Bill Gates may serve as an inspiration to everyone, especially innovators to help our world through creating technological advances that are environmentally friendly.
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