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Gates, other execs call for more energy spending
Bill Gates and other corporate figures say America's current energy strategy is hurting the economy, the environment, and national security and is asking the government to devote more money to fuel alternative energy.
The group, dubbed the American Energy Innovation Council (AEIC), released a detailed report on Thursday highlighting the problem and offering its own recommendations (PDF). Members of the group were due to meet with President Obama in the White House to discuss their concerns and possible remedies.
The group sees the energy challenge as more serious and much worse than most people realize, predicting a burden that will become more costly unless the U.S. can change its current energy policies.
In its findings, the group pointed out that the nation spends $80 billion a year on military research and $30 billion a year on health and medical R&D, but only around $5 billion each year on new energy R&D. With such a small amount of the national budget devoted toward energy research, the group believes the U.S. lags behind other countries in spending on alternative energy.… Read more
