The R&D Gap

As a percentage of GDP, the U.S. ranks eighth, behind countries like Japan, South Korea, and even Iceland. In one of the most important areas—energy—in 2010 the Department of Energy invested just $2.27 billion on applied R&D, or just slightly more than 1/100th of one percent of GDP. As a point of comparison, that’s nearly $1 billion less than the amount ($3.1 billion) we’ll spend in 2011 providing a tax benefit for employee parking.