There has been much applause for President-elect Obama's announcement of $150 billion over the next 10 years for alternative energy development. Not so widely reported has been the steady stream of clean energy funding announced by Gulf States, such as the promise made by the crown prince of Abu Dhabi last January of $15 billion towards clean energy. The crown prince's announcement highlights the massive shift underway in the Gulf States, as they transition from an oil exporting to an energy exporting region. Billion dollar investments in technology and research grants (Stanford, MIT and Cambridge researchers have been happy beneficiaries) are forcibly driving new developments in energy technologies at a pace that was unattainable at previous levels of funding. Such investments may go a long way towards making clean energy technologies more widely available and affordable, as the playing field begins slowly tipping toward equal with the heavily subsidised oil & gas and nuclear industries .

If a good return on investment considers full cost accounting, sustainability of the return, and long-term intergenerational legacy issues, the wise investments should by now be apparent.

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