(RightWing.org) – Tech billionaire Bill Gates is planning to spend billions on clean energy projects. It’s a long-term investment, but in the future, it could spare us the sort of pain that rising energy prices are causing us now.
Bill Gates-backed fund aims to invest $15bn in clean tech via @FT
Breakthrough Energy Catalyst to leverage private-public capital to subsidise new markets for green technologies https://t.co/bovovtdWpr
— Svein Tveitdal (@tveitdal) January 10, 2022
On January 10, industry media reported that an investment fund set up by Microsoft co-founder Bill Gates, and bankrolled with up to $15 billion, is planning to invest the cash in clean energy projects in the UK, EU and US. Breakthrough Energy Catalyst (BEC), part of Gates’ larger Breakthrough Energy Group, will look for new solutions that could reduce the cost of energy. Potential technologies include green hydrogen, sustainable aviation fuel and direct capture of carbon dioxide from the air.
BEC’s main objective is to reduce carbon emissions as part of the green agenda, but it could also benefit consumers. One of the main drivers of the inflation we’re currently suffering is the rising cost of energy, especially fossil fuels. If Gates’ fund can pick the right technologies to invest in, we could eventually reduce our dependence on oil and natural gas – and that means international tension (or a bungling president) wouldn’t be able to cripple our economy by forcing fuel prices up.
If clean energy is the future, way in the future, we’ll need these technologies as a foundation of the transition. Sure makes a lot more sense than trying to make a switch blind in the immediate future as some Progressives would like us to do.
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