(CNN) -- Sen. John McCain on Monday called for a $300 million prize to whoever can develop a battery that will "leapfrog" the abilities of current hybrid and electric cars. Sen. John McCain wants someone to develop a battery that can "leapfrog" those available in current electric cars. Citing high oil prices, the Republican presidential candidate said he wants his offer to "deliver a power source at 30 percent of the current costs." "[The prize would amount to] $1 for every man, woman and child in the U.S. -- a small price to pay for helping to break the back of our oil dependency," McCain said during a town hall-style meeting at California's Fresno State University.
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NEW: Sen. John McCain: Prize "small price to pay" to combat oil dependency
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NEW: Sen. Barack Obama criticizes McCain over pay discrimination bill
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McCain wants battery to surpass those of commercially available hybrids
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Candidates nearly level in cash available to spend before conventions
Republicans and outside analysts have said @placeholder found he could raise more money than public financing would allow him to spend.