Stanford University has announced a $100 million initiative to study energy issues.
The new Precourt Institute for Energy announced Monday will be dedicated to research on energy security, renewable energy sources and global warming.
The founding donors are Stanford alumni Jay Precourt, an energy executive, and Thomas Steyer and his wife Kat Taylor.
Steyer is a Stanford trustee and managing partner of Farallon Capital Management.
The donors say that even in an economic downturn it's essential to direct research dollars to solving energy problems.
Energy issues, they say, affect everything from economic to national security policy.
Copyright AP - Associated Press
