When dollar figures reach into the millions, eyes tend to widen. Wow! That's a lot of money.
When they reach into the trillions, eyes tend to glaze over. Wow! That's just too big a number to comprehend.
The International Energy Agency said Thursday the world must spend $45 trillion over the next 40 years or so on an "energy technology revolution" if it is to find alternatives to oil and slow or stop global warming.
That's something like $3 billion a day, which brings the enormity of the task into focus. Somewhat. For context, Congress has proposed a U.S. budget that amounts to spending more than $8 billion per day in 2009 ($3 trillion for the whole year).
This spending isn't like a rent check. It doesn't just disappear. It's more like an investment in a new business. This is money put into new industries, new research, new technologies. You can't transform the way we generate energy without paying scientists to study, factory workers to assemble, engineers to operate and construction crews to install. ...


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