McCain Offers $300 Million Prize For New Car Battery – With Video
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FRESNO, Calif. – 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 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.”
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 McCain. “From now on, we will encourage heroic efforts in engineering, and we will reward the greatest success.”
(AP)
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