Quote of the Day

"Why? Because renewable energy technologies — what I call “E.T.” — are going to constitute the next great global industry. They will rival and probably surpass “I.T.” — information technology. The country that spawns the most E.T. companies will enjoy more economic power, strategic advantage and rising standards of living. We need to make sure that is America. Big oil and OPEC want to make sure it is not". Thomas Friedman

I have eschewed quotations from popular writers but Thomas Friedman qualifies today because of this very profound sense of insight and the enormous bet that he makes here. In spite of the science some still claim that global warming is not proven and that there's no reason to change course, the quote suggests that future economic prosperity will come from identifying greener sources of energy. I can tell that the demand for the alternatives would be good because they would moderate the costs of petroleum in addition to reducing dependence of a single source that is largely available from member countries of a price fixing institution aka OPEC. Friedman however goes further by stating that it could be the precursor of the countries that would be dominant in the next phase of economic growth. I will keep watching.