Posted in Shameless Self-Promotion by Steven Hayward
The Weekly Standard has a feature from me tod
ay on the energy plan I worked on with Mark Muro at Brookings and the Breakthrough Institute greenies Shellenberger and Nordhaus. And the FrumForum has an article
that quotes copiously from me explaining how this call came to be. And I spent my morning debating energy issues with former CIA director Jim Woolsey. Which is really cool when you think about it. He tried to go all "Three Days of the Condor" on my butt, but I was prepared.
11:18 AM / October 16, 2010
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I agree with everything you say in that piece, except I might quible with:
"The energy sector only devotes 0.3% of domestic sales to R&D, compared to industries driven by innovation, such as communications (25.6%), software (15.1%) and pharmaceuticals (11.9%)."
I suppose it all depends upon what names we put in the energy sector.
I personally like CREE, which could be put in several different sectors, it is typically classified semi-conductor, and it makes a lot of high end LED's that go into HD televisions. But those high end LED's do have a big Energy story. These are incredibly efficient light bulbs!
I mean when you look at AAPL stock you know the R&D story is quite different, than when you look at ExxonMobil(XOM). These two are in a war over largest market cap....and If you consider XOM to be the energy play then it is funny that Al Gore sits on the board at AAPL.
I am not about to suggest that AAPL is an energy play, but who knows what Jobs is up to?
But certainly XOM is an energy play.
So XOM is always classified Energy sector....
But take the sorts of research done by Synthetic Genomics, it isn't completly different from research done by Monsanto (MON). But Monsanto belongs to the Agriculture sector. Monsanto certainly has a small but relevant biodiesel component. So Monsanto could be seen as Energy.
Then look at Exxonmobil Research & Engineering Company which operates as a subsidiary of XOM.
Do you happen to know if subsidiaries are counted for the purpose of making the point about .3% R&D?