McCain Proposes $300 Million Energy Prize

Ariz. Senator Wants To Give $1 Per American For Developer Of New Auto Battery

(AP)  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."

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."

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 even though he favored the decades-old moratorium on drilling in the 2000 campaign. 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.

McCain told a town-hall questioner on Monday 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."

In his remarks, 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 or Democrats who control Congress by name, 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.

[identity1234]

I believe us tax payers have giving the gov a trillion dollars for the war.

I''m sure we would ALL agree that you can take $1 for each AMERICAN, out of some of that money to pay for the battery you so desperately think will give you a chanch to win the election, Little Bush. Or for that matter, track down some of those millions the gov. seems to have lost during Katrina, what ever happened to that money? NO Accountability. If we did that at are jobs, we would be fired, prosecuted, lose our homes, and put in jail, but when a lieatition does it, it''s no big deal, it''s not thier money, they won''t be fired, or prosecuted, and do they really give a !@#$ about gas prices? I believe it is a write off for them, if they don''t already have a gov. gas card, paid for by you @ me. I don''t care if your DEM or REP, as an American that bleeds RED,WHITE @ BLUE, I care about being able to feed my children, put gas in the car, and be able to walk out side and HEAR SOMEONE SPEAK ENGLISH, is that too much to ask?

[von_marko]

I%u2019m voting Democrat because this really hot chick in Art class is, and this may be my best strategery.

[von_marko]

January 2001 - Gasoline averaged $1.52 a gallon.

Six years later, in January 2007 and with Congress under Republican control - Gasoline averaged $2.14 a gallon. Up $0.62, or less than $0.01 per month.

In the last 17 months since the Dems took control of Congress - Gasoline averages $4.09 a gallon. Up $1.95, or over $0.10 per month.

Great job, Democrats. You''''ve outdone the Republicans by a margin of over ten-to-one. And they said that you were a ''''do-nothing'''' Congress.
Posted by DemWatcher at 12:11 AM : Jun 25, 2008

[demwatcher]

I guess that the Dumbocrats will claim that speculation on oil futures never happened BEFORE they took control of Congress, and the speculators are doing it now just to spite them.

[demwatcher]

January 2001 - Gasoline averaged $1.52 a gallon.

Six years later, in January 2007 and with Congress under Republican control - Gasoline averaged $2.14 a gallon. Up $0.62, or less than $0.01 per month.

In the last 17 months since the Dems took control of Congress - Gasoline averages $4.09 a gallon. Up $1.95, or over $0.10 per month.

Great job, Democrats. You''ve outdone the Republicans by a margin of over ten-to-one. And they said that you were a ''do-nothing'' Congress.

[rowdywicca]

EXPOSED AGAIN! OBAMA''''S TAX PLAN WILL SAVE AMERICANS MORE AND ONLY THE TOP1-3% WILL SEE AN INCREASE ONLY BECAUSE THE BUSH TAX CUTS WILL BE REMOVED!

Whatta crock! Who''s that going to affect? 3% of the population?

"When you hear all this talk on the TV about Obama%u2019s this tax and spend liberal and he%u2019s gonna destroy businesses because he%u2019s taxing them and taxing them. It%u2019s just not true. They%u2019re saying it but it%u2019s not true," he said. "What is true is that I%u2019m gonna ask wealthier Americans to pay a little bit more because they have benefited more from the growth of the economy.%u201D I think this statement just say it ALL!!!! YOU''RE GOING TO BE PAYING MORE TAXES!!! ALL OF YOU!

LMAO!

[rowdywicca]

Economist agree!!!!!!!!



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Posted by King_quest at 12:22 PM : Jun 24, 2008

What economists?? The same ones that are telling you that Bush''s economy is in just FINE SHAPE??

Figgers!

[king_quest]

Posted by RowdyWicca at 09:36 AM : Jun 24, 2008

EXPOSED AGAIN! OBAMA''S TAX PLAN WILL SAVE AMERICANS MORE AND ONLY THE TOP1-3% WILL SEE AN INCREASE ONLY BECAUSE THE BUSH TAX CUTS WILL BE REMOVED

%u201CNo matter what he says, both of us favor tax cuts. The difference is that Sen. McCain wants to continue a Bush tax code that rewards wealth, and I want to reform our tax code so that it rewards work,%u201D

%u201CI want everybody to listen to this carefully: The tax cut that John McCain has proposed, nearly a quarter, nearly one-fourth of his tax cuts go to households making more than $2.8 million every year,%u201D

"When you hear all this talk on the TV about Obama%u2019s this tax and spend liberal and he%u2019s gonna destroy businesses because he%u2019s taxing them and taxing them. It%u2019s just not true. They%u2019re saying it but it%u2019s not true," he said. "What is true is that I%u2019m gonna ask wealthier Americans to pay a little bit more because they have benefited more from the growth of the economy.%u201D

Economist agree!!!!!!!!

[king_quest]

BACON, BACON, I SMELL BACON

[frootloop47]

Hey folks check these sites out: http://en.wikipedia.org/wiki/Motor_Development_International
(Motor Development International SA (MDI) is a Luxembourgish company that is famous for designing Compressed Air Engine vehicle prototypes marketed under the title "the Air car". The latter should not to be confused with the products of the Air Car Factories SA company [1][2].)
MDI: http://www.theaircar.com/acf/
http://ir.tatamotors.com/

[frootloop47]

SgtRDS-E4, I don''t think gas prices will be cut in half if the Enron Loophole is closed up. But, it''ll definately help. Last figures/guesses I saw was that speculation was adding $35-$55 to a barrel of crude.

[rowdywicca]

You right wing nuts have spent enough of my money on follie.

Now sit down your day is coming to and end and soon most neo cons will be out and maybe the Republicans can go back to the way there were (if any are left). As for me I left and became a Democrat.


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Posted by antoniof123 at 08:47 AM : Jun 24, 2008

What are you going to do when the democrats start spending it and you get about 10% less of your check?

OMGGGGGG! Guess you hadn''t though about that did ya?

[antoniof123]

You right wing nuts have spent enough of my money on follie.

Now sit down your day is coming to and end and soon most neo cons will be out and maybe the Republicans can go back to the way there were (if any are left). As for me I left and became a Democrat.

[rowdywicca]

If alternative fueled auto''''s are what this country thinks it needs...make everybody put up or shut up!

Posted by RowdyWicca at 09:37 PM : Jun 23, 2008
______________________

McVet will put up. How much are you going to charge him for a blo job?


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Posted by rufisgufis at 10:32 PM : Jun 23, 2008

Thinking with the little brain below your waist again? Sometime try to get it up and use the brain up top! But then again, it''s pro''bly as useless as the one below!

[rowdywicca]

If alternative fueled auto''''s are what this country thinks it needs...make everybody put up or shut up!

Posted by RowdyWicca at 09:37 PM : Jun 23, 2008g
______________________

Where is the three hundred million coming from? Is this guy an idiot or what?


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Posted by rufisgufis at 10:29 PM : Jun 23, 2008

Same place the money is coming from for all of Obama''s stupid plans...right out of your pocket!!!

$1.00 per citizen! LMAO!

[rowdywicca]

This is hilarious. He announces this like it''''s going to help lower gas prices soon. Develop a battery, design a car, put it through testing, put it into production - about 10 years, just like his great offshore drilling plan. And how to pay for it? Reduce pork. Except that''''s how he says he''''s going to pay for all his other programs, since he''''s not going to get rid of tax cuts for the rich, or tax breaks for the corporations, or approve a windfall profits tax, or end the war.
In hearings today, hedge fund managers and energy experts said gas prices could go down by half in 30 days if the Enron loophole would be closed. Obama wants to do that, McCain and his advisors (who lobbied for the loophole on behalf of the oil companies) and the oil companies are against that. He sure is for the little guy.


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Posted by nanc12 at 10:32 PM : Jun 23, 2008

Funny, isn''t it. You were just in here the other nite, touting the bill where they''d closed the loophole and oil prices would come down without drilling! Could it be you didn''t know what you were talking about?

[greatdrivew]

I don''t think a $300 million "prize" is good idea. Republicans love to talk about the market supporting good ideas, so let the market be the prize for the winner. And as for the $300 million, how about paying off our national debt? Hmmm?

[oneworldusa]

Must be a mistake. ExxonMobil is sponsoring an article that will put it out of business??

Someone at CBS or EM will probably get the shaft for this one.

[tiredofthebs]

And in case you haven''''t noticed, ONLY flattering pictures of Obama are posted in the media. The pictures of McCain & Senator Clinton are usually the WORST or most unflattering that the photog had on the roll.

Posted by TiredoftheBS at 09:22 PM : Jun 23, 2008
___________________

They are not on a roll; this is the digital age. Get a life. The problem is, McCain is fossilized, and Obama is good looking.

Posted by rufisgufis at 10:31 PM : Jun 23, 2008

The ''roll'' was figurative. I''m not the only one whose noticed that any candidate OTHER than Obama gets crappy shots posted on the web, papers, magazines, etc.

[sgtrds-e4]

The price of oil would be slashed in half if the Phil Graham loophole was closed. What more do you need to know for short term price relief?