Bush's Advanced Energy Initiative proposes a 2007 year budget of $148 million for solar cell R&D and $44 million for wind energy R&D.
Straight from the horse's mouth
By contrast,
a single american company has budgeted a gradual increase from $700 million this year to $1.5 Billion per year by 2010 toward R&D for new clean energy technologies.
They intend to profit from these research results of course.
So, one single company is willing to invest between 700 Mil and 1.5 Billion per year researching photovoltaics, wind energy, and clean coal.
There is absolutely no way that the pittance Bush is throwing at the issue will outperform the vast resources, acumen, and efficiency that is being harnessed by even this one single company, much less the entire private sector. It turns out that venture capital is pouring into clean energy at a current rate of $1 billion per year, and growing rapidly.
what? you don't believe it? why not? For example "Nth Power's $250 million in assets under management are devoted solely to new energy technologies." and "A recent survey by Deloitte & Touche and the National Venture Capital Association (NVCA) shows that 21% of VCs worldwide plan to invest in energy and the environment over the next five years, up from 12% currently." (that's over a 50% increase for those not doing the math at home)
So why is Bush doing this Advanced Energy Initiative? Does he really think this will be the one initiative from his administration that isn't bogged down by ineptitude, mismanagement, underfunding, and corruption boondoggles ala Medicare Bill, NCLB, and hell even his previous "Energy Bill" which was little more than a huge giveaway to oil? No, I"m pretty sure this Advanced Energy Plan will be business as usual for Bush (i.e. pandering to us while blatantly giving away the store to special interests)
I have a lot more reading to do but I intend to track down where this money is intended to go and I feel quite certain it will turn out to be disappointing to those who think Bush is suddenly the Green Saviour.
It sucks being right all the time but I feel a duty.
natedogg