Power from the ocean
Sir, – I was saddened to read that Wavebob and other firms like it are finding it difficult to get funding (“Ocean energy developer Wavebob set to go under”, Business, April 4th).
That the banking/financial sector at large is looking for a “quick buck” is no great surprise – hence our current economic situation.But, given the relatively small amounts involved and the reward if it came off (clean energy from the seas for an island nation) it should be a no-brainer for the Government to be an investing partner in this.
Even if it does not yield immediate results, the money would support jobs in the immediate and surrounding industries and the results would be of interest to universities (to name but two benefits).
But our Government seems content to look for short-term “balancing of books” until the next election rather than thinking 20 or 30 years down the road. Clearly the politicians have self-interests (elections) in view rather than global issues.
A sad moment on a fine spring day. – Yours, etc,
BORIS FENNEMA ,
Bray, Co Wicklow.