I can hear the heads of right wingers in the US exploding already, anyway Bill Gates says that the governments around the world need to lead the fight against climate change and that private industry is incompetent.

“There’s no fortune to be made. Even if you have a new energy source that costs the same as today’s and emits no CO2, it will be uncertain compared with what’s tried-and-true and already operating at unbelievable scale and has gotten through all the regulatory problems,” Gates said. “Without a substantial carbon tax, there’s no incentive for innovators or plant buyers to switch.”

Gates even tacked to the left and uttered words that few other billionaire investors would dare to say: government R&D is far more effective and efficient than anything the private sector could do.

“Since World War II, U.S.-government R&D has defined the state of the art in almost every area,” Gates said. “The private sector is in general inept.”

Source: US Uncut

Later in the article it goes on saying about how China leads the world in renewable energy investment, they know renewables are the way of tomorrow but use dirty technology to build their economy now.