Posted on 06/23/2008 6:58:17 AM PDT by charles m
PHOENIX (AP) - John McCain hopes to solve the country's energy crisis with cold hard cash.
The presumed Republican nominee is proposing 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 in remarks prepared for delivery Monday at Fresno State University in California.
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 is also proposing 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 provide U.S. automakers with a $5,000 tax credit for every zero-carbon emissions car they develop and sell.
"In the quest for alternatives to oil, our government has thrown around enough money subsidizing special interests and excusing failure," said excerpts from McCain's prepared text. "From now on, we will encourage heroic efforts in engineering, and we will reward the greatest success."
The proposal comes as gasoline has reached a record cost of more than $4 a gallon. That has boosted the price of virtually all goods and services, sent commuters flocking to public transportation and increased tensions between the United States and its Middle Eastern oil suppliers.
Last week McCain suggested one way to ease supply concerns would be to lift a federal ban on offshore oil drilling if individual states want to allow it. His Democratic rival, Sen. Barack Obama of Illinois, opposes that idea, saying it would do nothing to address immediate price concerns.
On Sunday, Obama told a Washington audience he would strengthen government oversight of energy traders whose futures speculation he blames in large part for the skyrocketing price of oil.
In his latest speech, McCain expressed exasperation both with the federal government and the private sector.
He said rising costs during a time of stagnant wages evokes the 1970s era of "stagflation."
Without blaming his fellow Republicans in the Bush administration directly, McCain said: "It feels the same today, because the unwise policies of our government have left America's energy future in the control of others."
The pork-barrel opponent also blasted "a hodgepodge of incentives" for the purchase of fuel-efficient cars.
"Different hybrids and natural-gas cars carry different incentives, ranging from a few hundreds dollars to four grand. They're the handiwork of lobbyists, with all the inconsistency and irrationality that involves," McCain said.
Following the speech, McCain was scheduled to attend fundraisers in Fresno and Santa Barbara, part of a money push that helped the senator raise a personal record of $21 million last month.
How about this, John...how about a promise to not have the government tax or otherwise collect monies on the production, sale, distribution or USE of a new battery?
Sounds good to me.
Cindy’s money or taxpayers’??
I thought so. Typical Senator.
Better than that other Senator, though.
I thought the free market was already offering huge rewards for new, better car batteries.
First $50/hour to pick lettuce. Now $300 million for a car battery. Can’t this guy do anything for himself?
“The Arizona senator is also proposing 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.”
I thought McCain opposed the ethanol scam in the US.
Well, there are other ways to obtain ethanol. Brazil actually has some better ideas in this regard than we do. Corn is about the worst way to get it...sugar is better.
I’m not a huge ethanol fan, but there are better ways to obtain it than using corn, that might be worth considering.
McCain=Idiot
Actually I don’t think this is such a bad idea. Sure beats many other plans.
I think this is a really good idea. In the same way the X Price encouraged individuals and companies to approach space flight, this could really have some positive results.
The X Price was a relatively small 10 mil, but the exposure it brought to Branson’s company helped him book billions of dollards in future flights.
I wouldn’t be suprised if this ended up going to some small company with 4 guys working in some garage somewhere.
Wait, where is this money coming from?
I thought republicans... were... anti-tax....
Hmmmmmm.......
Free markets are their own reward.
He is mighty generous with other peoples money as well as quick on the draw to just throw money at a problem as a solution.
You don’t think someone who invented such a thing would be richly rewarded by the market?
“Without blaming his fellow Republicans in the Bush administration directly, McCain said: “It feels the same today, because the unwise policies of our government have left America’s energy future in the control of others.”
Blame yourself, McCain! Remind us how you voted in the past on drilling in ANWR. Have you supported these past bans and moratoriums on offshore drilling?
And now you present us with more fantasy fuel scenarios when none of them have yet been proven viable. It’s petroleum for the foreseeable future, and you are as responsible for the present situation as any other RINO and probably most Dems.
If it's so small why do you have to put a gun to people's heads to get it? A dollar is a small price to pay to prevent being thown into jail and gang raped.
“I’m not a huge ethanol fan, but there are better ways to obtain it than using corn, that might be worth considering.”
And if the US starts buying ethanol from Brazil in an meaningful quantity, what do you think that will do to the price of ethanol? In the US and Brazil?
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