By Eric Auchard and Nichola Groom
MENLO PARK, California (Reuters) - U.S. legislation to control greenhouse gas emissions would make renewable energy sources competitive with conventional fuels "overnight," a top Silicon Valley venture capital firm said on Tuesday.
Policies to control emissions of carbon dioxide, a gas associated with global warming, would "instantly make any green tech solution more cost-competitive with fossil-based competitors," said Kleiner Perkins Caufield & Byers Partner John Denniston. "Overnight that will happen."
"If we legislatively put a price on carbon... that would be a watershed event in the energy world," Denniston told the Reuters Global Agriculture and Biofuels Summit at his firm's headquarters in Menlo Park.
"It would send a signal to the entire world that the United States understands that climate change is a crisis, and it would be a rallying cry for the rest of the world to work with the U.S," Denniston said.
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