AN EXAMPLE OF FREE MARKET FAILURE

I know that the old AT&T Bell Labs did a lot of great work. Here's a short list of some of the lab's achievements:

Information Theory
Experimental Suppport for the Wave Nature of Matter
Radio Astronomy
The Transistor
The Solar Cell
Practical development of the Laser
The Echo of the Big Bang

On the other, Big Oil hasn't been much help and it doesn't look like it ever will be a big help. From Satyam at Think Progress:

ABC: Exxon spends 1 percent of profits on alternative energy.
Exxon Mobil today broke its own record for the highest-ever profit by a U.S. company, with net income this quarter rising to $11.68 billion. While Exxon officials regularly tout the company’s investment in alternative energy, ABC reported today that Exxon spends only 1 percent of profits on alternative energy sources. Watch it: