Tuesday, June 24, 2008

David Harsanyi sees some silliness coming from McCain

Via Don Boudreaux, Harsanyi writes:

John McCain's proposal that Uncle Sam offer a $300 million prize to whoever develops a battery that "has the size, capacity, cost and power to leapfrog the commercially available plug-in hybrids or electric cars" is silly -- as explained well by the Denver Post's David Harsanyi. (Full disclosure: Mr. Harsanyi interviewed me for his column.) Here are Mr. Harsanyi's closing paragraphs:

But when McCain peddles prize money, he also feeds the perception that industry and scientists aren't already working diligently on energy breakthroughs — with batteries and areas unknown — or that the market doesn't incentivize them to do so.

Worse, McCain makes it seem that a cure for oil is just beyond our grasp. Around $300 million away.

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