HeraldNet: For innovators, McCain offers cash



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Eco Geek

June 24, 2008

For innovators, McCain offers cash

Posted at 12:01 am

Here’s a way to afford that Toyota Prius: design a car battery that’s better than anything else out there.

If you do, John McCain promises to pay you $300 million.

Of course, that’s only if he’s elected president in November. It also depends on whether Congress puts the kibosh in his plan. After all, that $300 million won’t come from McCain’s coffers – it’ll come straight from taxpayers.

Before heading out to the workshop, consider the rules.

The battery should:

Deliver power at 30 percent of current costs

be able to surpass current hybrid and electric car options in size, capacity, cost and power.

Not to be outdone, Obama promised over the weekend that he would, according to The Washington Post, “strengthen government oversight of energy traders whose futures speculation he blames in large part for the skyrocketing price of oil.”

You can see why the $300 million attracted my attention faster than Obama’s plan.

But here it is in plain English, just to give both guys a fair shake:

The suits behind the oil industry are to blame for the high cost at the pump, and the federal government should be a better babysitter of their actions.

Of course, that’s an over-simplified version of Obama’s proposed solution to the problem. Then again, McCain’s idea doesn’t need a translation.

Money speaks for itself, but is a $300 million cash prize – and the resulting car battery - enough to turn the Titanic that is the oil industry?

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