One of the world’s most esteemed entrepreneurs and philanthropists, Bill Gates recently gave a talk about energy and climate at TED2010, where he unveiled his vision for the world’s energy future. He described the need for “miracles” to avoid planetary catastrophe and explained why he’s backing a dramatically different type of nuclear reactor. The goal? Zero carbon emissions by 2050.

Gates also spoke with Technology Review’s editor in chief Jason Pontin about his energy ideas. One key policy he outlined: cheap energy for the poor.

Billionaire Bill Gates spelled it out: the U.S. is currently investing far too little in energy research. As a member of the American Energy Innovation Council, Gates proposed that U.S. investment in energy R&D should increase from $5 billion to $16 billion each year. More than doubling current investment might sound extreme, that is, until you compare it to the $30 billion invested in health R&D.

While Gates would opt out of philanthropic aid and leave this R&D investment increase to the risk-taking of big and small firms alike, he does say that being philanthropic with cheap energy resources is crucial to reducing the critically harmful effects of global energy consumption.

“I think it’s very important, both to give poor people cheap energy and to avoid hugely negative climate change…” Gates told TR. “We should have a carbon tax. What we owe the developing world is this: we’re willing to pay high prices for energy plants above coal and drive prices down the curve so by the time they need to buy them, they don’t have to pay the high price.”

If the world does not cut developing nations a deal, he continues, then all we’re doing is prolonging the inevitable:

“If X or Y or Z gets you a 20 percent reduction in CO2, then you’ve just got the planet, what, another three years? Congratulations! I mean, is that what we have in mind: to delay Armageddon for three years? Is that really it?”

Watch the video above and read more about Gate’s petition to give cheap energy to the poor.