Maersk has announced plans to build the largest container ships ever, and in the process reduce their carbon emissions by 50% per container-mile. This is what business does. High costs are incentives to innovate. The prospect of increasing costs are even stronger spurs.
Businesses, left to themselves, will innovate their way to better energy efficiency. Private enterprise achieves the progress that bureaucracy obstructs.
Tuesday, February 22, 2011
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