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McCain's $300 Million Prize …and Other Matters from His Santa Barbara Energy Speech

June 23, 2008 10:34 AM

Abc_mccain_080623_blog Later today at Fresno State University in Santa Barbara, Calif., Sen. John McCain will discuss how "energy security is the great national challenge of our time."

Among other ideas, he'll propose inspiring "the ingenuity and resolve of the American people by offering 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."

Pooh-poohing proposals to take on OPEC directly," McCain will say, "some in Washington seem to think that we can still persuade OPEC to lower prices – as if reason or cajolery had never been tried before," he'll say. "Others have even suggested suing OPEC – as if we can litigate our way to energy security.  But America is not going to meet this great challenge as a supplicant or a plaintiff.  We are not going to meet it with words at all – we are going to meet it with action.  We’re going to produce more, conserve more, and invent more."

With that, McCain will propose leveling "the playing field for all alcohol fuels that break the monopoly of gasoline" and issue a "Clean Car Challenge" -- a $5,000 tax credit for each and every customer who buys a zero-emission vehicle.

Democrats are focusing on McCain's reversal last week on off shore drilling, pointing out the irony of McCain's presence in Santa Barbara given that flip flop and given the fact that the creator of Earth Day, former Sen. Gaylord Nelson, D-Wisc., came up with the idea after seeing the results of an off-shore-drilling disaster while in Santa Barbara.

In 1969, Nelson came up with Earth Day after seeing the results of an oil spill at a Unocal platform off the city's coast. (Links from the Democrats about this 39-year-old spill: HERE and HERE.)

- jpt

June 23, 2008 | Permalink | Share | User Comments (60)

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Given that electric car battery leader A123 has already secured $250 Million in private funding, the $300 Million that McCain is proposing simply underscores how clueless he is in regards to both the magnitude of the problem and the opportunity provided by 100% electric cars powered by wind and solar. Given that the world cannot produce enough plant-matter to create enough cellulosic ethanol (even IF we knew how to make cellulosic ethanol!) to power today's super-size me Pickup trucks and SUVs Obama demonstrates that he doesn't get it either!

Posted by: Jim Adcock | Jun 26, 2008 2:42:12 PM

What a great idea!

Our country HAS the "smarts"; Let's encourage it's creativity and
sourcefulness!


COUNTRY BEFORE PARTY!!!

Posted by: QUESTIONER | Jun 23, 2008 5:14:29 PM

this prize is irrelevant. 10 years ago it would have been influential but now corporations are already investing hundreds of millions on a battery market perceived as being worth billions. they already cant invest fast enough so the prize wont change a thing.

once there is a technology winner (such as a123systems) they wont care much about $300 million after having to spend their own money on research and development. the true prize for them was a contract with GM on the Chevy Volt and after-market upgrades for the Prius.

if the govt wanted to actually help then they would spend the money up front on research to create the battery and tie the research contract to a guaranteed low price making it available to the people of this country (it is our money being offered, not McCain's).

instead, this prize would reward any company already positioned for worldwide domination of the battery market. clearly they will not be in a position to need charity.

Posted by: g f | Jun 23, 2008 4:47:19 PM

@huh: Thanks but I've been a Democrat all my life in a state where people who are democrats would be republicans anywhere else and republicans would be outlawed. IOW, the heart of conservatism. We call ourselves Free Range Democrats because all the good corn was kept by the other team.

Seriously, I was a Hillary supporter. With my horse out of the race, it's better to be an independent and try to make the best of it which is to say hold on to the vote until I see a deal worth making. :-)

God, country, family, party in that order.

Posted by: len | Jun 23, 2008 3:21:43 PM

Mr. McCain can write the check to EEStor or Zenn Motor Co. since the technology is being developed as we speak and will become commercially available in 2009.
ZENN Motor Targets Highway-Capable, EEStor-Powered Vehicle for 2009
29 March 2008

During its Annual and Special Meeting of Shareholders, ZENN Motor Company Inc. (ZMC) said that it is targeting the launch of the cityZENN EV, powered by EEStor, for the fall of 2009. The cityZENN is planned to be a fully certified, highway capable vehicle with a top speed of 125 kph (80 mph) and a range or 400 kilometers (250 miles). The cityZENN is supposed to be rechargeable in less than 5 minutes.

EEStor is the developer of what it says is a new high-power-density ceramic ultracapacitor (the Energy Storage Unit—EESU). The EEStor ESU is projected to offer up to 10x the energy density (volumetric and gravimetric) of lead-acid batteries at the same cost. In addition, the ESU is projected to store up to 1.5 to 2.5 times the energy of Li-Ion batteries at 12 to 25% of the cost. (Earlier post.)

EEStor has publicly committed to commercialization in 2008 and their first production line will be used to supply ZENN Motor Company.

Posted by: John | Jun 23, 2008 2:07:09 PM

Mealer Companies has been living the McCain plan for years. We fially have funding to expand and fully fund our Green Auto (and more) company across America.
Thanks John!
FOR IMMEDIATE RELEASE: JOHN McCAIN’S 3R ECONOMIC PLAN 2008
Abbreviated version

Progressive Candidate John McCain comes through for America with his 3R economic plan.
In the persona of Theodore Roosevelt, McCain’s plan just makes sense.

1. RETHINK: America must rethink the global views on what America is capable of in our current state of technology, engineering and the demands that face the world.

“RE-Think” the basic job goals involve the dwindling retirement, health care and social security plans that are failing Americans. With a strong base and a higher Gross Domestic Product (GDP) America has a new bargaining chip in the way we live and the ways we retire.

The framework is already in place through existing laws to make this happen. The Progressive attitude of John McCain to get things done by crossing party lines will resurrect America.

Posted by: JL Mealer | Jun 23, 2008 1:58:46 PM

This technology exists and is being developed in Texas by Eestor and will be available through Zenn Motor co. in 2009 and will be available to all car companies after that.

Posted by: Rich | Jun 23, 2008 1:45:57 PM

If this battery is all it is cracked up to be a good republican would realize that the market will provide the earned prize.

Next will be a 99 cent per gallon gas lottery

Posted by: smith | Jun 23, 2008 1:37:47 PM

Fresno State University is in Fresno, California, not in Santa Barbara!!!!!

You're a reporter, right?

Posted by: centralcal | Jun 23, 2008 1:31:26 PM

Obama also thinks if you over tax the companies that employee the workers that it will create more work in this country. Only a Democrat would believe that LOGIC. The fact is more companies would leave the country to a tax free country.

Posted by: boos | Jun 23, 2008 1:18:15 PM

700 million from leftover Vegatable Oil. Please, MCCAIN is so CLUELESS - BOB BARR - 08

Posted by: latinovoter1 | Jun 23, 2008 1:17:34 PM

Obama thinks that if you tax the oil profits it will lower the cost of OIL> The OIL companies will just pass the cost of the tax to the consumer. THE WHOLE WORLD IS PAYING MUCH MORE FOR OIL not just United States. WOrld Wide Demand has skyrocketed and supply is getting short.

Posted by: boos | Jun 23, 2008 1:12:54 PM

Len and Ben Straub: Just read your postings. You guys are right on. Good to hear disgruntled republicans at it.

Ben: Wish Paul had a chance.

Posted by: Huh | Jun 23, 2008 1:11:14 PM

If the dems want to go back 30 years , well then we do not want another Carter in the form of Obama !!

Posted by: spock | Jun 23, 2008 1:11:03 PM

Oil is big money. Until something can make money like oil we will depend on it until it runs dry. We are all pawns to the OIL MAN.

We may never find a replacement for oil and go back to the simple life of having a horse instead of a car

Posted by: Oil boy | Jun 23, 2008 1:10:54 PM

McCain is coming up with Solutions, that is great, Someone should tell the Marxists Obama and the rest of the dem party that criticizing solutions is not creating solutions.

I want to take this time and thank Obama and the rest of his Marxist Group in Congress for paying higher Fuel and Food costs, I always wanted to do that.

NOT!!!!

Posted by: spock | Jun 23, 2008 1:09:29 PM

McCain's right -- We can technology our way out of this. But we have to keep at it.

Back in the Jimmy Carter days of oil at the astronomical price of $20 per barrel, we instituted incentives for energy saving like solar homes and better cars. Folks started up businesses, innovated ways of getting the green, low energy profile and then lost everything when the feds decided that stuff was too expensive and anyway, the gas lines went away and they kept their jobs in Congress.

Or we could wait until the Chinese, the Indians or the East Muldavians come up with a solution and take more of our money than the jerks in the Middle East do.

In business we have a saying, "If you are serious, act like you are serious". We are far from serious -- Those we have elected to watch out for us have absolutely no interest in anything but getting their party into a majority.

Posted by: Tom Mariner | Jun 23, 2008 1:07:57 PM

Obama is going to offer 350 million and claim it as his idea. And then the news media will faint over Obama again

Posted by: lenny | Jun 23, 2008 1:07:36 PM

This is a great idea. Obama is nothing but a critic that does nothing but criticizes. Who is he going to blame next. His staff probably have tape over their bung hole so Obama does not do them next

Posted by: sar jack | Jun 23, 2008 1:05:31 PM

len - You bet. I am unfortunately not so well read unless you lump technical journals into the mix. You grew up near MSFC. I had to give a talk at Redstone. Nice green place. I am out in the high desert of New Mexico now, nice and brown. Well getter get back to some design work. Good talking with you.

Posted by: Ben Straub | Jun 23, 2008 1:02:56 PM

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