The last time sen John McCain said something that caught my attention I had some respect for the guy. When sen Obama and sen Clinton were busy blaming globalization and china for the loss of jobs in america John McCain said straight forwardly that, jobs that were lost are lost and they would never come back.
Now McCain had proposed that $300 million would be given to anyone who would develop an automobile battery that would cost only 30% of a present day battery and one that would perform far better than the current ones. The reason is to lessen dependence on oil. It would seem a very encouraging thing but it is a downright useless proposal.
To lessen the dependence on oil, the battery been developed would have to be economically viable. So the person or the organization that would develop a battery would make a good profit anyway. So why does the public have to first award the developer $300 million and then buy it from the same developer? I am sure most of the car manufacturers would be researching in this area with or without the award because it is very attractive right now. It is better to use this money for R&D rather than awarding it to someone that would have developed it anyway.