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Posted by: Michael Mandel on August 23
Everyone (well almost everyone) agrees that we need new ideas and new technologies to deal with a prospective energy crisis.
Well, well, well. If that’s so, why does the new energy bill actually request less money for energy R&D in FY 2006? According to an analysis by AAAS, the FY2006 R&D request is actually 5% lower than the FY2005 level!
What kind of idiocy is this? Yes, the FY2006 request in the legislation may be overriden when it comes time to actually allocate the money, later this year. But the fact that the politicians are starting at a lower level is a bad sign. If the Democrats and Republicans can’t manage to get a sizable increase in energy R&D in place as soon as possible, they just show that they don’t understand how today’s economy works.
Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.