Two of the biggest stories of the current decade are actually flip sides of the same story. On side one is the accelerating North American Energy Revolution, based on the explosive development of abundant, cheap fossil fuels and the new technologies to consume them more efficiently and safely. On side two is the rapidly collapsing Clean Tech Revolution that was supposed to supplant fossil fuels. The North American Energy Revolution is precisely the kind of result that was to be expected when businesses strive to satisfy the needs of consumers. But that raises several key questions about the so-called “Clean Tech bust”: First, why did so many smart people waste so much money on technologies that were not commercially viable? Second, why didn’t Clean Tech technologies make more of an impact in the marketplace? Third, who is benefitting from the implosion of the Clean Tech companies? We’ll provide the answers to these important questions.
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