The document discusses the history of technology policy in the United States and challenges commercializing emerging energy technologies. It provides examples of energy technologies under development at the University of Texas at Austin, including algal biofuels. Barriers to commercializing these technologies include high production costs, challenges scaling up, and obtaining sufficient funding to prove concepts. The document advocates focusing on processing improvements rather than engineering and forming early partnerships with private investors to help technologies cross the "valley of death" between research and market viability.