Tuesday, June 24, 2008

McCain: Create a Better Car Battery and Win $300 million

Republican Presidential Candidate John McCain has put forward a less conventional idea on how to deal with rising gas prices: a cash prize! Last week, John McCain alienated some environmentalists by labeling environmental conservation a “moral luxury” and calling for intensified offshore drilling. This week, however, McCain is promoting a more environmentally-friendly platform including intensified fuel economy standards. The Republican Nominee also said he would offer a $300 million prize for the “development of a battery package that has the size, capacity, cost and power to leapfrog the commercially available plug-in hybrids or electric cars.” This unusual proposition provides a free market response to heightened environmental concerns.