It's amazing to see how entrepreneurs have changed the old world (electricity, vaccinations, powered flight), but even more amazing to turn 180 degrees toward the future and see how they are tackling current challenges with breakthrough technologies. Bob Litan has an infectious optimism in the power of future entrepreneurs to create the breakthrough innovations against world poverty, entitlement crises, global warming, and so on. So, Bob, this one's for you:
“Ten years ago I could never have imagined I’d be doing this,” says Greg Pal, 33, a former software executive, as he squints into the late afternoon Californian sun. “I mean, this is essentially agriculture, right? But the people I talk to – especially the ones coming out of business school – this is the one hot area everyone wants to get into.”
He means bugs. To be more precise: the genetic alteration of bugs – very, very small ones – so that when they feed on agricultural waste such as woodchips or wheat straw, they do something extraordinary. They excrete crude oil.
Read the whole thing in today's The Times (hat tip: Arnold Kling)
Increasing the supply of crude oil would have the effect of increasing emissions, which should increase the warming effect. This may make oil cheaper, but that doesn't alleviate global warming. If the models are accurate, it only worsens it.
Posted by: Steven Bass | June 16, 2008 at 12:36 PM
Sorry. Helps to read the article before commenting.
Posted by: Steven Bass | June 16, 2008 at 12:38 PM
On July 10 2009 Teslas Birthday is Energy Independence Day in USA & Canada <>< And it works on any fuel used. www.100mpgtoday.com Dennis B. Drake
Posted by: Dennis B. Drake | December 24, 2008 at 09:49 AM