08 March 2013 05:13 [Source: ICIS news]
HOUSTON (ICIS)--Microsoft co-founder and chairman Bill Gates said on Thursday that more money should be spent on research and development to further innovation in the energy industry.
“The research across the field is very, very important,” he said during IHS CERAWeek dinner for conference attendees. “Some of it is being done, but it’s nowhere near where it should be.”
The government normally spends money on production tax credits, depreciation and other economic factors, but all of those things will come from basic research, Gates said.
“We’re not really optimising,” he said. “We really need to look into basic research.”
Gates said he believes the US government and other countries should invest more in renewable energy, particularly solar, and he would like to see more in nuclear power as well.
IHS CERAWeek is an energy conference that runs through Friday.
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