As expected, presidential hopeful John McCain outlined a plan yesterday which would offer a $300 million cash prize to the first company able to build a better automotive battery. The proposal is part of an effort to reduce the nation's petroleum usage, in this case, by furthering the development of electric cars. In what would must be the least shocking news of the day, McCain's rival for the White House, Barack Obama, isn't in favor of the Arizona Senator's plan, calling it a "gimmick" and suggesting that his plan to force automakers into a 50 mile per gallon fleet average by 2027 would be more effective.

One thing is certain: whomever wins the presidential election has plans to make drastic changes to the automotive sector with the express goal of reducing the nation's dependence on oil. What path that may take, though, remains to be seen and will likely depend on which candidate placed in office. It should be rather interesting to watch it all unfold.

[Source: The Detroit News]