Cambridge University has a team of researchers working on the application of nanoparticles to the generation of solar energy. The cost reduction over currently available technology for panels is significant although the yield is still quite low – only seven per cent conversion efficiency is available – but expectations are high.

The only problem the researchers are facing is the unavailability of real sunlight. They are using an artificial sunlight generator, poor creatures. Imagine if we could provide them with leased facilities to conduct their research under our real sun and work out a deal to share in future profits generated by eventual advances. That’s how money is made, through innovation and discovery, not by tilling tired fields. This is just one project I happen to know about. I don’t know if our sea could be offered to particular research teams as well. Of course, investment would be needed, and it is a risk. We need guts, savvy and luck. I don’t know which is the scarcest, and I don’t want to sound arrogant or cocky. But the future lies in using ancient resources in a novel way.