WASHINGTON -- Microsoft co-founder Bill Gates and several other business executives want the U.S. to dramatically increase spending on clean energy innovation.
Gates and other members of the American Energy Innovation Council are releasing a report Thursday calling for annual government spending of $16 billion -- more than triple the current $5 billion. They also want the creation of an independent National Energy Strategy Board to coordinate federal energy research, which the executives say is inadequate.
They plan to meet with President Barack Obama and congressional leaders Thursday to pitch the plan. The group includes current and former leaders of Xerox; Lockheed Martin; Kleiner Perkins Caufield & Byers; Bank of America; DuPont; GE; and Cummins Inc.