March 11, 2010

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Will the Clean Tech Bubble Burst?

By Mark Fischetti

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This article was published in Scientific American’s former blog network and reflects the views of the author, not necessarily those of Scientific American

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BOSTON—Economic bubbles are now famous, and the collapse of the dot-com business a decade ago made the bursting of bubbles infamous. A panel of experts here at the Going Green East conference yesterday ended up in a lively, entertaining and, at times, contentious debate over whether the growth of so-called clean tech--renewable energy and environmentally friendly technologies--has entered the bubble stage, if that bubble is bursting...or if a bubble has ever existed.

Lucky for anyone reading these words, the conference organizers at Always On videotaped the panel and have already posted it online for viewing. (Use this link then scroll two thirds down the page to the embedded session title "The Cleantech Bubble?".) The first 10 minutes have some of the best fireworks from two pioneers of major technology ramp-ups, including Bob Metcalfe, who invented the Ethernet and drove the vast growth of the Internet, and George Gilder, whose prognostications about hot telecomm technologies and the darling companies behind them greatly pumped up the dot-com bubble. If you listen even longer you'll hear all four panelists ultimately bash subsidies for technology of all kinds, itself worth the price of admission--which in this case, is free.

bubble photo from iStockphoto/Pgiam

Mark Fischetti was a senior editor at Scientific American for nearly 20 years and covered sustainability issues, including climate, environment, energy, and more. He assigned and edited feature articles and news by journalists and scientists and also wrote in those formats. He was founding managing editor of two spin-off magazines: Scientific American Mind and Scientific American Earth 3.0. His 2001 article “Drowning New Orleans” predicted the widespread disaster that a storm like Hurricane Katrina would impose on the city. Fischetti has written as a freelancer for the New York Times, Sports Illustrated, Smithsonian and many other outlets. He co-authored the book Weaving the Web with Tim Berners-Lee, inventor of the World Wide Web, which tells the real story of how the Web was created. He also co-authored The New Killer Diseases with microbiologist Elinor Levy. Fischetti has a physics degree and has twice served as Attaway Fellow in Civic Culture at Centenary College of Louisiana, which awarded him an honorary doctorate. In 2021 he received the American Geophysical Union’s Robert C. Cowen Award for Sustained Achievement in Science Journalism. He has appeared on NBC’s Meet the Press, CNN, the History Channel, NPR News and many radio stations.

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