Gates hammered on
points reported here for many years: that without a big, and sustained, boost in spending on basic research and development on energy frontiers, the chances of triggering an energy revolution are nil; that while the private sector and venture capital investors are vital for transforming breakthroughs into marketable products or services, they will not invest in the long -
haul inquiry that's required to generate game - changing breakthroughs; that a 1 or 2 percent tax on carbon - emitting fuels could generate a large, steady stream of money for invigorating the innovation pipeline; that a declining emissions cap and credit trading system --- if it could survive America's polarized politics --- would have to raise energy costs far beyond what would be politically tenable to generate a
similar scale of transformational activity.