The Green New Deal that is being backed by many on the left is an impossible dream that would do more to take away your rights than really do anything to save the planet. Yet there is a clean-energy save-the-world initiative backed by green money -- with investors including Amazon founder and billionaire Jeff Bezos and Microsoft -- that could become a reality.
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Unlike the recently proposed Green New Deal, which would use your money and restrict your rights to achieve the goal of a carbon-emission free world, Bezos and Microsoft are reportedly investing hundreds of millions in technology that, while at this stage still may be a dream, is more grounded in science and reality. The technology is called nuclear fusion.
I don’t want to worry Rep. Alexandria Ocasio-Cortez, who wants to have no nuclear energy in her green deal, so I will explain. The proven concept of nuclear fusion is different than nuclear fission, which is what we think about when we talk nuclear. With nuclear fusion there is no radioactive waste and it cannot be used as a nuclear weapon, nor cause a nuclear meltdown. It just produces energy in abundance, and if Bezos and Microsoft are right, it could help bring energy to the one billion people in the world who do not have it.
Nuclear fusion could be the answer to not only meeting those needs, but actually achieving the Green New Deal’s goals of net-zero greenhouse gas emissions. Yet while the concept of nuclear fusion is proven, it has yet to be produced commercially because of the problems with scalability and the difficulty in the actual process of archiving fusion.
One startup in the space that Bezos and Microsoft are betting on, according to Crunchbase, is called General Fusion. The company is being led by Michel LaBerge, a physicist who the smart money bets will crack the code and build the reactor that will create clean energy in the same way the sun creates power -- and change the world.
And there are other millionaires and billionaires investing in different methods to crack that code. Companies like Lockheed Martin, as well as a dozen or so start-ups such as Commonwealth Fusion System and First Light Fusion, among others, are also in the race. The first one to crack the code and build the reactor will change the world.
This race is being driven by not only a goal to change the world, but to also make money. Billionaires become billionaires because they have vision and are willing to risk their own capital to make dreams come true, and to create capital and wealth.
When millionaires and billionaires use their money to try to solve a problem and take the risks that can make them richer, society normally benefits. Of course, if some of the socialist Democrats and proponents of the New Green Deal get their way, there will be no more billionaires making investments, just ineffective government, with unrealistic dreams and bad outcomes.
The best “green deal” is when savvy investors put hard-earned money on their visions for the future.
Phil Flynn is senior energy analyst at The PRICE Futures Group and a Fox Business Network contributor. He is one of the world's leading market analysts, providing individual investors, professional traders, and institutions with up-to-the-minute investment and risk management insight into global petroleum, gasoline, and energy markets. His precise and timely forecasts have come to be in great demand by industry and media worldwide and his impressive career goes back almost three decades, gaining attention with his market calls and energetic personality as writer of The Energy Report. You can contact Phil by phone at (888) 264-5665 or by email at email@example.com