McCain’s energy policy rocks

Posted by Moonage on 23 Jun 2008 | Tagged as: 2008 Presidential Race, Energy Policy

I LOVE this!

The Republican presidential nominee-in-waiting is proposing a $300 million government prize to whomever 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.

As he points out, the current tax incentives and such are a confused mesh that don’t make much sense.  In the case of the car buyer, they are somewhat useless since it’s rather difficult to buy a decent hybrid, especially one that’s practical in rural areas.  McCain is proposing solving the problem in the most Republican concept I’ve heard in years.  Make it purely capitalist driven.  Dangling a $300 million carrot will get people’s attention real quick.  Not only that, but if they win that $300 million, they should have the capital it takes to ramp up production immediately.  100% private sector, 100% smaller government, 100% perfect.  And, where is that $300 million going to come from you say?  Well, if it works, it’ll come from what we’re sending to OPEC in a couple of days.  And, given that US automakers are already seeing the writing on the wall, seems to me they’re poised to go after that $300 million right now.

This rocks every way I look at it.

 

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