[Congressional Record (Bound Edition), Volume 153 (2007), Part 11]
[House]
[Page 15451]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           INDEPENDENCE PRIZE

  (Mr. McHENRY asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. McHENRY. Mr. Speaker, the disastrous effects of our Nation's 
dependence on foreign oil are being seen in every new tank of gas and 
every cent we send overseas to pay for Middle Eastern oil. Rising gas 
prices are a product of rising demand and not enough supply.
  The time is now to revolutionize the way we produce and consume 
energy. That's why I am proposing a 21st Century Manhattan Project to 
spur the ingenuity of our American private sector, to deliver free 
market solutions for our Nation's energy problem.
  I am introducing legislation to create a $1 billion prize, the 
Independence Prize, as I call it, that will go to Americans who develop 
revolutionary products that substantially reduce our dependence on 
foreign oil, eliminating our dependence on foreign oil. The 
Independence Prize provides incentives to American entrepreneurs to get 
transformational innovation to consumers, and more importantly, put 
Americans on a path to energy independence. Independence is the key.
  I urge my colleagues to support this bill.

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