John McCain is putting his money where is mouth is when it comes to solving the country’s energy crisis. Well maybe not his money per se but the point remains. The Republican proposed a $300 million government prize today to whoever can develop an automobile battery that far surpasses existing technology. If you need a little reality check, that prize equates to $1 for every man, woman and child in the country.
McCain has some pretty lofty ambitions for potential developers and states 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 that duck existing fuel-efficiency standards, as well as incentives to increase use of domestic and foreign alcohol-based fuels such as ethanol.
In addition this “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.
For just a moment, we’ll pretend Senator McCain didn’t conclude his inspirational speech by climbing into a full size SUV and reflect upon the undeniable truth that he is in fact on the right track with such ambitions.
