Theroretically, companies have maximum freedom to pursue creative new approaches. Realistically, publicly held comapnies are contrained by a constant need to show results every 90 days. This significantly curbs strategic thinkin and R&D.

Still, the energy business is better at R&D than most. (Shell’s stratgey group in the 70s is what spanned Peter Schwartz’ scenario-based planning and ultimately the Global Business Network.)

However, owing to the national security considerations around energy, I think it’s fair to ask whether that big defense budget shouldn’t contain a lot of funding for new energy research.

This is assuming that the government is going to spend a lot of money on something whether we like it or not.

As it should be.

How much more creativity are companies able to engage in when they don’t have to ask government’s permission?

As it must be.