Wednesday, April 30, 2008

Kay Bailey Hutchison has it right

KBH has a great piece about what needs to be done as far as rising food prices around the globe and our ridiculous requirements on ethanol production.

This is the scenario that we see time after time, good intentions directing legislation with horrific results. Just one of many examples of why government needs to be as limited as possible and more importantly needs to keep its fingers out of the free market. One of the cheif reasons that oil is so expensive now is because we are depending on importing it instead of tapping into the resources right here in our own country.

As far as alternative fuels are concerned, a little creativity can go a long way.

The idea isn't "mandates" or "regulations", but rather "incentives".

How about prizes for "proof of concept" cars that use a fuel other than petroleum or biofuel products. Maybe even a bonus for one that doesn't have an internal combustion engine at all. Set up some practical criteria, for example:
- Has to have a range of > 300 miles
- Has to have a maximum speed of 80 mph
- Has to hold two adults comfortably

Give a big wad of cash to the winners and/or the colleges or groups they are associated with, have a deal already worked out with the major auto manufacturers that they will work with the winners and offer tax breaks to the manufacturers if they can have a five star crash rated vehicle, using the concept, to market in less than two years. Publicize it. Make it a big deal.

Offer a ridiculous bonus if the proof of concept vehicle can be constructed for less than $10K and can be run and maintained for 15K miles a year for less than $2K.

Make it a ridiculous timeline too, like one or two years (at the most) from the announcement. And the prize should be big, Power Ball big, $100 million plus.

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