I'm in Texas this week for the annual National Business Incubator Association conference. The theme of the conference is Innovation for a Strong Economy and Healthy Planet. Several of the conference’s breakout sessions are devoted to green energy. These facts reiterate a point I heard an expert on VC financing make recently: “the smart money among Venture Capitalists in Silicon Valley is headed towards Green Tech… and I don’t just mean green as in the color of money, I mean green in terms of the environment.”
Of course it’s likely there's much irrational exuberance in this phenomenon. Remember how the world's problems would be solved and everyone would get rich in the process during the IT revolution market of the 90’s or in the housing market of the 2000’s?? But hey, that’s a concern for Ben Bernanke, isn’t it? Aren't they on point when it comes to bursting bubbles?
Regardless, you're in the money if you’re in the Green Tech biz. But what about smokestack energy and industry? As green tech becomes more and more of a lucrative investment won’t its backers push for environmental regs that support the implementation of their tech?
I’ve said for a long time that whatever your views on climate change and global warming that those of us who support coal mining have to recognize the need to develop better clean coal tech. It’s only a matter of time before we see a carbon emission regulatory regime of some type signed into federal law. While such a measure certainly wouldn’t end the use of coal, it could significantly impact the total amount of coal burned in America.
A footnote: Thomas P.M. Barnett reports that China is on board the global warming bandwagon. They’re calling for the west to help them obtain green tech that’s typically too expensive for their adaptation. Doesn’t that sound similar to re-importation of medicines, only in reverse? Will Congress screw Green Energy the way some want to screw Big Pharma? Or will this be a boon for green energy companies?
Barnett also makes the point that China is motivated in large measure by fear of civil unrest if the good times stop rolling. I’ve said it here before: fear not China… or fear it coming unraveled. The Middle Kingdom may be growing, but they’re generating much centrifugal force in the process.
Monday, May 05, 2008
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6 comments:
Cyber, I'm constantly amazed at your tolerant Realpolitic re China, especially when contrasted with your rah rahing of our Iraqi adventure. I want no conflict with China, but please excuse me for not caring that they fear their own "un-raveling", as if that is somehow an un-usual concern of any state. See Lincoln. Maybe you have heard of Maurice Strong? He's a very rich Canadian who lives in China and is one of Al Gore's gurus on climate change, as well as a huge proponent of global government and the diminishment of national sovereignty. Ah yes, cue the black helicopters and summon the militia. Strong is a black helicopter pilot, after all. In the meantime, I'm growing weary of sacrificing Youngstown or Western Pa or Harlan because the Chinese are having growing pains. By all means bring on clean technologies and greeniness, but please pay attention to some real nasty sumbucks behind some of these curtains. They dis-like freedom more than dirty skies, my friend. (Hope you enjoyed my McCain impersonation) SCOOBY
Scoobs:
We should fear what the Islam fundamentalists and nationalists should do to us.
We should not what the Chinese will ultimately do to us.
The jobs that the Chinese are taking, those low skill, repetitious jobs, should be replaced here in America by reeducating workers to take their place in the global economy.
Cyber, do you know which three countries officially recognized Bin Laden's Taliban Afghanistan? Saudi Arabia, Pakistan and United Arab Emirates. Re-education indeed. SCOOBY
122 dollars for a barrel of oil. Mission accomplished.
"those low skill, repetitious jobs, should be replaced here in America by reeducating workers to take their place in the global economy."
My, My.
I feel sorry for the people in E. Kentucky who would kill for one of those boring factory jobs. Especially, those in your family who drove north to work in those "repetitious" factory jobs to give you an education.
So, let the Chinese produce our steel, and Mexico build our autos.
We don't need those jobs anyway.
I don't know what the Chinese are going to do to us, but I do know that if things continue as they have been, they will own us.
For the last commenter:
I'm sure my grandfathers, who worked in factories in OH, didn't sit around pining for the days when their parents were poor farmers who could eke out a living on the land without them having to leave home and travel hundreds of miles away.
That economy was great, but it's gone now and we have to move on. We can't roll back the clock. I'm not insensitive to those folks' who lost jobs, I just want to see them get better jobs by retraining.
As for the Chinese owning us, we've been there before w/ the Japanese.
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