John McCain offers $300 million prize!!!

[stomperrob]

...time to start inventin' guys!

McCain proposes $300M prize for new auto battery
Monday, June 23, 2008 4:14:03 PM
By GLEN JOHNSON

John McCain is hoping to solve the country's energy crisis with cold hard cash. The presumed Republican nominee on Monday proposed a $300 million government prize to whoever can develop an automobile battery that far surpasses existing technology. The bounty would equate to $1 for every man, woman and child in the country, "a small price to pay for helping to break the back of our oil dependency," McCain said at Fresno State University.

McCain said such a device should deliver power at 30 percent of current costs and have "the size, capacity, cost and power to leapfrog the commercially available plug-in hybrids or electric cars."

The Arizona senator also proposed stiffer fines for automakers who skirt existing fuel-efficiency standards, as well as incentives to increase use of domestic and foreign alcohol-based fuels such as ethanol.

In addition, a so-called Clean Car Challenge would encourage U.S. automakers to develop zero-emission vehicles by offering consumers the incentive of a $5,000 tax credit when they purchase one.

"In the quest for alternatives to oil, our government has thrown around enough money subsidizing special interests and excusing failure," said McCain. "From now on, we will encourage heroic efforts in engineering, and we will reward the greatest success."

con't...

rest of article: http://www.mail.com/news.aspx?cat=topheadlines

[Omaha Red Sox]

When I get home later tonight, I'll throw some stuff together and have it for you tomorrow morning. Sound good?

[knapplc]

It's the X-Prize, only with a bigger payout. The idea is old, but a good one. It is just a sign of our laziness that we haven't invented a better battery, or a better photovoltaic cell, or in general a better way to fuel our vehicles. We have the smarts to do it, just not the motivation for some reason.

Yeah it's a cheap election-year ploy, but it could turn out to be a pretty darned good one. And it's LOOOONG overdue.

[deerayfan072]

It's the X-Prize, only with a bigger payout. The idea is old, but a good one. It is just a sign of our laziness that we haven't invented a better battery, or a better photovoltaic cell, or in general a better way to fuel our vehicles. We have the smarts to do it, just not the motivation for some reason.

Yeah it's a cheap election-year ploy, but it could turn out to be a pretty darned good one. And it's LOOOONG overdue.

easiest way to get Americans to do something quickly is offer good money for the end result

We had a bridge that needed to be knocked down and rebuilt here on a major highway. They offered 300,000 for it to be done early. They projected it would take 2 months, they did it in 1 month. They had people working pretty much 24 hours. Why? They were offered significant cash to get it done soon.

[knapplc]

Goooo Capitalism!

I hear you, though. It's maybe a bit cynical, but money is the grease in the wheels of America. That's the way it goes.

[deerayfan072]

Goooo Capitalism!

I hear you, though. It's maybe a bit cynical, but money is the grease in the wheels of America. That's the way it goes.

I think it is realistic, not cynical. I also have no problem with it

[treat24]

I would pay more than a buck for this... Hopefully the gov't actually has to shell it out. That means we will have achieved it.

[eagles21]

Pretty cool idea. I hope it works.

[deerayfan072]

I would pay more than a buck for this... Hopefully the gov't actually has to shell it out. That means we will have achieved it.

The government first has to approve it, McCain proposed it, but he doesn't control congress

[beanoX3]

One of the editors of Car and Driver laughs at these government edicts/incentives that push for automakers to change something within a short deadline. Biggest reason he gave was that it takes automakers long years to get anything from the drawing board to actual production, usually longer than whatever deadline is set. McCain's statement about subsidizing special interests is also funny, as how some people view the ethanol push as one such special interest. I don't really like the idea of using my tax money to front this cash prize either.