Buyer Backs “Cash Prize” Energy Incentives Advocated by Mike Sodrel & John McCain

If a cash prize of ten million bucks is enough incentive to for private industry to put a man in space, then a few hundred million in prizes can probably do wonders for hastening the development of new technologies when it comes to energy.

From WIBC:

Fourth District Representative Steve Buyer is trying to rally public pressure on Congress to open up more land for oil drilling.

In a series of Indiana appearances, Buyer is talking up a bill he filed in May to do exactly that. The eight-term Republican says more drilling would bring prices down even before any oil starts moving, because OPEC nations and the futures market would respond to the shift in policy.

Buyer says the nation needs a comprehensive energy strategy, including the pursuit of biofuels, solar and wind power, nuclear power, and conservation. But he says the U-S should use existing energy sources now, while waiting for alternatives to come online.

He’s also endorsing similar suggestions from Republican presidential nominee John McCain and former GOP Congressman Mike Sodrel to offer cash prizes for researchers who deliver energy breakthroughs.

(This post also available at the Hooserpundit)