Senator John McCain on Monday proposed the creation of a $300 million prize for anyone who developed breakthrough car-battery technology and he recommended greater tax incentives for buyers of nonpolluting autos, saying that only a combination of increased oil production, conservation measures and ingenuity could ease the fuel crisis and slow global warming.
I don’t know the details, or how McCain will pay for it. What I do know is that it’s better in the hands of private industry. $300 million is a big incentive – a buck per citizen. I love X-Prize style ideas. Especially since it would probably cost the government about $300 billion to do it (probably a lowball estimate.)
I still hope the bastard loses, however.