We’ll know a lot more about the Iowa Power Fund four years from now. Was the allocation of $100 million sufficient, or too modest? Was it wise to be so inclusive, or was it naïve to let so many companies and institutions have a shot at the money?

At this point, we have to feel good about Iowa taking a strong position on the need to develop alternative fuel sources.

But the new Office of Energy Independence and the Iowa Power Fund Board have a bewildering job ahead of them. They are to review proposals about research, development and production of biofuels and other sources of renewable energy. Not only that, they have been assigned the tasks of encouraging commercialization, implementing energy efficient practices and reducing greenhouse gas emissions.

That’s enough to keep the whole state busy.

We’re entering a phase in which new ideas and new companies will pop up like rows of corn, and separating the worthy from the less-so is difficult by definition; who knows what’s going to pan out?

The business community can help by taking lots of small chances. Each company can look for ways to get involved – maybe by buying a product it hasn’t tried before – without risking too much.

If something looks really promising, a well-defined alliance with a start-up might be not just a worthwhile gamble, but a contribution to Iowa’s future.

The annual provision of $2.5 million to community colleges to train workers for energy industry jobs sounds a little vague.

The requirement for an Iowa Energy Independence Plan seems to be the wrong emphasis. It might be motivational, but the goal of energy independence is a bit provincial.

The nation itself won’t become energy independent in our lifetimes. But it certainly needs to be in a better bargaining position with other countries than it is now, and Iowa can be a vital part of achieving that.