Good read...
"He said the energy industry invests only 0.3 percent of its revenue into research and development."
Yet those fuggers will tell you they need those MAAAAAASIVE profits to invest in R & D!
"Energy industry" is a very broad term. What the above statement actually applies to: public utilities, power companies, anything to do with the electric power grid in North America, and particularly the US.
They are operating on infrastructure that is physically 3-5 decades old and conceptually it dates back to Tesla and Edison, with extremely few changes.
Good illustration: If A.G. Bell were transported to 2013, he'd look at cell phones and have no clue what he's looking at.
If Tesla / Edison (just not both, hah!) were transported to 2013 and look at the power grid infrastructure, they'd be intimately familiar with it.
The companies I talk about do not have massive profits, typically. They are just very very slow to adopt new technology for various reasons. The money they spend on R&D is the lowest anywhere (by percentage).