President's Clean Tech Budget Add-On: How Big Is It?
by John Laumer, Philadelphia 
on 01.30.08
The White House website details what President Bush outlined in his State of the Union speech this week regarding a "clean energy technology" budget addition in response to the risk posed by climate change.
President Bush is committing $2 billion over the next three years to create a new international clean energy technology fund to help confront climate change worldwide. Along with contributions from other countries, this fund will increase and accelerate the deployment of all forms of cleaner, more efficient technologies in developing nations like India and China, and help leverage substantial private-sector capital by making clean energy projects more financially attractive.
A favorite blog for keeping up on green tech developments, Greentech Media, has compared the President's new budget commitment to several other entities (graphic).
Looks like the US is IBM/Vigin league. But not to worry. US consumers have given much treasure to Dubai and it is positioned to make up for the US' lackluster showing. See Lloyd's "Dubai Jumps the Shark" post for some details.
Via::Greentech Media, "Bush's Tiny $2B Greentech Fund"
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Disgusting! The US government's spending is comparable to that of Virgin?! All while we're spending billions in Iraq each week?! Disgusting!
=== authors' response follows ====
This is the "new" amount promised for combating climate change through overseas clean tech collaborations. The US spends more on domestic based R&D for renewables of course.
We don't really know what will happen with the money if it is even appropriated. But, by the use of language I heard, the money could go for selling coal gasifiers and nuclear generating station technology to China and count as being under this allocation.
But its still small.
also, it's 2 billion over 3 years, so even less than virgin...
If it's for coal gasifiers, maybe it should stay small...
According to Venture Beat http://venturebeat.com/2008/01/18/vc-funding-up-biotech-outpaces-other-industries/ clean tech received $487 Million in funding from VC's in the third quarter. Looks like private enterprise picks up where the government falls short.