FRESNO, Calif. — Sen. 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 a town hall meeting 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.”
McCain told a questioner that he was unsure of the extent of any oil speculation, but if it has boosted the price of a barrel by 50 percent — as he has heard from some analysts — or just 1 percent, “then it seems to me there should be a thorough and complete investigation.”
He added: “If there is anybody who took advantage of Americans in order to enrich themselves, then it’s unacceptable.”
Obama, Clinton to campaign together
Former rivals Obama and Sen. Hillary Rodham Clinton plan to campaign together Friday in the small New Hampshire town of Unity, their first joint appearance meant to ease tensions over the closely fought Democratic primary.
The location, announced Monday, was chosen not only for the symbolism of its name, but because each candidate received exactly 107 votes there in the Jan. 8 primary that Clinton won.
The rally will be the day after Obama and Clinton meet privately Thursday at a Washington hotel with former Clinton donors. The former first lady will introduce Obama to her financial backers, who have been slow to embrace her onetime opponent.
Clinton suspended her campaign for the Democratic nomination earlier this month after Obama secured enough delegates to clinch the nomination. “I endorse him and throw my full support behind him,” she said at the time.
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