$1 billion prize for car that can travel 100 miles per gallon

Representative Daniel Lungren (R-CA) has introduced HR 1451, the “New Options Petroleum Energy Conservation Act of 2007,” a bill that seeks to provide incentives to reduce dependence on foreign oil. It includes, among other things, a $1 billion prize the first U.S. car manufacturer to sell 60,000 midsized sedan automobiles that can travel 100 miles per gallon.

IN THE HOUSE OF REPRESENTATIVES

March 9, 2007

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Bright Tomorrow Lighting Prizes

In April 2007, Senators Bingaman (D-NM), Domenici (R-MM), Dorgan (D-SD), Lugar (R-IN), Akaka (D-HI), Murkowski (R-AK) and Craig (R-ID) introduced legislation dealing with energy efficiency. One section of the bill requires the United States Treasury to create a Bright Light Tomorrow permanent fund, without a fiscal year limitation, to finance prizes for energy efficient lamps. There are three specific prizes.

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Climate Technology Challenge Program

This prize program is part of S. 280, a bill to address global warming. The high powered sponsors include Senators Lieberman, Carper, Clinton, Coleman, Collins, Durbin, Lincoln, McCain, Nelson, Obama and Snow.

This is a fairly significant prize program. It seems as though a single award can exceed $100 million, with the approval of the Secretary of Energy.

110th CONGRESS, 1st Session, S. 280

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