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Here’s a slightly less rosy scenario for the future of alernative enregy up on Yahoo! Finance than the one painted by Team Obama:

Alternative energy is one of the key pillars of Barack Obama’s budget “blueprint”, formally unveiled today.

“We know the country that harnesses the power of clean, renewable energy will lead the 21st century,” Obama said in his speech Tuesday night. “It is time for America to lead again.”

Many green energy advocates say the annual $15 billion of related spending in Obama’s plan isn’t nearly enough, while critics say so-collared green-collar jobs are a myth and, regardless, won’t do much to help an unemployed machinist in the Rust Belt.

Investor and blogger Paul Kedrosky of Ten Asset Management says such debates miss the broader point: Unlike during the growth of computers, when the industry coalesced around the Mac and Windows OS, there is no agreed upon alternative energy platform. As a result, nobody really knows how much money we need – or don’t need – to invest in clean tech, which he says is more akin to drug discovery (biotech) vs. traditional tech.

Clean tech is “a giant capital pit” and public investors should only play at the margins, while private investors should focus on technologies like batteries for hybrid cars that play on the edge of existing, established industries, Kedrosky says.



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