vehicle electrification, natural gas, liquid fuel.oose whatever you want an open the car to fuel competition. this approach has faced political difficulties. that is an understatement. despite the fact, frederick hayek talked about the dangers of monopolies on cartels, many people do not understand the need, sometimes for a little bit of government action to break through and open the market to competition. bashing or head against the wall gets to be a little tiring so in this report there is a very different approach. one of our key recommendations is via the existing fuel economy system. automakers need to meet tougher fuel economy standards. this is existing law and it will be quite expensive to meet these standards and dino the environmental movement says how wonderful and good for men will result in this but the fact is a rise and be tougher for automakers to do. one of the approaches we suggest is, half of them in your sleet. some electrified vehicle, cn gee vehicle, and methanol, not wrong enough. and some combination thereof,

. >> he make as very good point, the last government did nine miles of electrification in 13 years. absolutely pathetic record. we're puting a billion pounds into modernizing railways in the north of england. look at this issue of hs-2. we all know it needs cross party agreement to make this important infrastructure team go ahead. what a pathetic spectacle we've seen this week. one minute they're for it, then they're against it and leader of the opposition too weak to make a decision. >> i come across a very interesting interview given by the prime minister to the "times." constituency office, in his words he needed to turn the heating on just so it's a bit nicer when i get back this afternoon. how many of my constituents does he think will be able to afford such niceties as we approach this winter? >> what his constituents will understand, their price freeze is a price con. prices would go he have beforehand. prices would go up afterwards and as he himself has admitted they wouldn't be able to keep the promise because they don't control gas prices. that's why everyone knows it is a

vehicle electrification. compressed natural gas, flex fuel, methanol, choose whatever it is you want. open the car to fuel competition. this approach has faced some april difficulties. it's an understatement. despite the fact that as jim pointed out freed rick hayek himself talked about the dairnlgt of monopoly and cartel, many people do not understand the need -- sometimes for a little bit of government action to breakthrough and open a market to competition. all right. well, bashing your head against the wall repeatedly gets to be a little bit tiring. in this report, there's a very different approach. and one of our key recommendations is via the existing fuel economy system, automakers have to meet very, very tough fuel economy standards. this is not easy. it's existing law and it's to be quite expensive to meet the standards. i know, the environmental movement said peace on earth and good will toward men will result from this. the fact it's going raise the price for seek -- vehicles and tough for automake

we do rural electrification with solar home systems reaching 2 million people in bangladesh with a successful dealer based cooperative based solar home system model. we also do large scale grid based solar and experimenting with concentrated solar power promising to provide a stable supply of energy because you can actually store the heat in a concentrated solar power plant so you're less subject to when the sun is actually shining. the technology is exeensive, very much in the experimental stage. the solar costs have come down dramatically, but even so, there's still, in many parts of the world, not competitive with other forms of renewable or conventional energy. they are competitive in rural locations, islands, remote landlocked locations where at the cost of other forms of energy it's much higher, but there's quite a way to go before they compete with other kinds of renewable and conventional energy on the grid. >> the region other renewables banned is relative to everything else is just expense so i goes one thing you -- rob, it's hard to anticipate, but if there could be a technology br

it's almost like 100 years ago prior to world war ii where you had a lot of innovation, the electrification of the united states, for example, before world war i had begun. and it made us more productive and put a lot of people out of work. so we're in the same place today for a different reason. >> desmond? >> i don't think that's surprising that, in fact, was anticipated by many people like reinhardt, the after a financial crisis of the soviet in 2008-2009 with a lot of people highly indebted, wealth affected, the expectation was that one would grow very slowly. i think that when you look at the united states in 2013, part of the reason why we have grown so slowly is this massive amount of fiscal tightening round about two percentage points of gdp that have to do with the deal on the fiscal cliff, sequestration and so on, so that there's a really a strong head wind that is slowly what would otherwise be a recovery. once one goes into 2014, the hope is that with less fiscal restraint you could get somewhat more of a pickup. >> john? >> yes. quickly, just to add, there is no single reason i

engaged in the cellar space, both of these off grid products and mentioned were also to rural electrificationwith solar home system. we've reached about too many people in bangladesh with a very successful dealer based, solar home baseball. we do large-scale grid-based solar and where experiment with concentrated solar power, which promises to provide a more stable supply of energy because you can store the heat in a concentrated solar power plants are less subject to when the sun is shining. the concentrated solar power technology is still very expensive. it's very much at the experimental stage upwards of 20 cents per kilowatt hour. the solar photovoltaics have come down costs very, very dramatically over the last few years. even so there's still in many parts of the world not competitive with other forms of renewable or conventional energy. we see them as being competitive more and rural locations, islands, remote landlocked locations where the cost of other forms of energy is much higher. there's still quite a way to go before they are competing with other kinds of renewable and conventio

and energy access challenge needs to take into account both electrification and the whole cooking challengeok at how energy is distributed around the world today, it's highly inequitable. we find that about the 20 largest energy-consuming countries account for 80% of global energy consumption. whereas the low income countries consume only about 1%, so that's a huge, huge gap. and, in fact, just two countries -- china and the u.s -- each account for 20% of global energy consumption, so it's a very, very inequitable story. now, even when energy's available in the developing world, there's all kinds of problems with its quality. it's inadequate, it's unreliable, it's subject to frequent interruptions, and it's actually making a huge toll on the economies, the growing economies of the to developing world. at the world bank we do a lot of surveys with businesses around the world, and we find that in about one-third of our client countries, citing energy is the number one constraint to doing business, the sheer lack of a reliable source of energy. not only that, but in parking lots of the world t

for the first time, there's a chance to diversify a significant amount of transportation, electrificationicles including the hybrids which are popular today, natural gas for heavier over the road central fuel vehicles. there's promise in bio fuels as well. diversification of transportation away from its sole reliance on petroleum is the best thing we can do to prevent ou prevent ourselves have from having another shock on the market. we have to get to the point we're producing enough oil for our own consumption. we're still tied into the oil market. >> i'd like to point out the world market is not a free market. seven of the top ten oil companies in the world are state owned. price is driven as opposed to a result of supply and demand. >> fred, warren buffett wants to talk to you. i don't know what it's about. he usually has a checkbook. $38 billion is the current mark of fedex. i wouldn't entertain anything less than 50. >> joe is going to take a commission. >> i'm thinking fedex. warren, you love fedex right? >> he's paying you in gummy bears. >> i wanted to make one comment. sometimes