Sen. McCain proposes $300m prize for a better battery

Petroleum prices are making electric vehicles and engines which run on biofuels look more and more attractive with each passing day. That's why its likely to be a hot topic this election season as each presidential candidate sets out his own unique proposals to ease the country into a new era of lower fuel consumption. Biofuels may be the quickest path to lower petroleum usage, but it's electric vehicles which present the biggest step forward in clean auto technology looking forward.
Both biofuels and battery technology are getting some love from Senator John McCain, who's set to propose a prize of $300 million for the first company who can build a better battery. That's a large sum of money, but it won't be easy to tap considering that the goal is for a battery with "the size, capacity, cost and power to leapfrog the commercially available plug-in hybrids or electric cars." Oh yeah, and do all that with a seventy-percent reduction in cost. That shouldn't be a problem, right?

[Source: The Detroit News]

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