Congratulating the X PRIZE Foundation's leadership in inspiring a new generation of viable, super-efficient vehicles.

Mr. Speaker, I yield myself such time as I may consume.

I rise in support of H. Res. 907, as amended, which recognizes and congratulates the forward-thinking X PRIZE Foundation on one of its latest contest endeavors, the Automotive X PRIZE.

There is a rich history in this country of prizes sponsored by private entities leading to innovations in science and technology. Starting with the Ansari X PRIZE, the privately funded X PRIZE Foundation has successfully been able to build on the concept of the 1927 Orteig Prize, which awarded $25,000 to the first person to be able to make a nonstop transatlantic flight. While the actual Orteig Prize name may not be well known, the recipient of this prize, Charles Lindbergh, certainly is. The benefits of the $400,000 of investment teams made in an effort to win this prize certainly have been realized, and the $250 billion aviation industry that took off shortly thereafter certainly continues to prosper. Likewise, the 2004 Ansari X PRIZE leveraged over $100 million in research by teams vying for a $10 million price for private spaceflight. Won by Mojave Aerospace Ventures, the Ansari X PRIZE changed the public's perception of personal spaceflight.

Now the Automotive X PRIZE is poised to produce similar results for the next generation of automobiles, viable, super-efficient vehicles. As the resolution states, our ``national security and economic prosperity demand that we move toward a sustainable future.'' This prize certainly helps us move in that direction. It will be awarded to the team that can design, build and sell super-efficient cars that achieve 100 miles per gallon and are not concept cars, but cars that people will want to buy. If successful, the end result in and of itself will be impressive, but the overall benefits to the Nation will be too numerable to measure. This prize, like those before it, will generate millions of privately funded research dollars producing research that may not in the end win the prize, but could spur additional technologies. Likewise, this prize will stimulate the entrepreneurial spirit of inventors and investors alike, both known entities and brilliant minds working in backyard garages.

I congratulate the X PRIZE Foundation's leadership in creating a private, independent competition designed to help move us closer to a sustainable energy future. I wish them much success, look forward to seeing the results it produces, and encourage my colleagues to support this resolution.

With that, I would reserve the balance of my time.

Mr. Speaker, I am honored to yield 1 minute to Dr. Bartlett, my friend from Maryland.

Mr. Speaker, I am pleased to yield 2 minutes to my colleague and friend from Nebraska (Mr. Smith).

Mr. Speaker, I have no further speakers, and yield back the balance of my time.

Mr. Speaker, I move to suspend the rules and agree to the resolution (H. Res. 907) congratulating the X PRIZE Foundation's leadership in inspiring a new generation of viable, super-efficient vehicles, as amended.

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days to revise and extend their remarks and to include extraneous material on House Resolution 907, the resolution now under consideration.

Mr. Speaker, I yield myself as much time as I may consume.

Mr. Speaker, on June 21, 2004, Space Ship One became the first privately funded craft to take a person into space. Space Ship One flew again on September 29, 2004, and on October 4, 2004, and upon successful completion of these flights, Mojave Aerospace Ventures, the developers of Space Ship One, captured the $10 million Ansari X PRIZE. Just as important as Space Ship One's historic flights, the competition for the X PRIZE spurred the creation of a private spaceflight industry in this country.

It is with this past success in mind that I rise to speak in support of the new Automotive X PRIZE. This new prize will award a multimillion-dollar prize to teams that can design, build and demonstrate production-capable vehicles that achieve 100 miles per gallon or its equivalent. With the current price of oil hovering around $100 per barrel, it is more important than ever that our country develops technologies that increase the efficiencies of our

automobiles. To this end, I was pleased to support H.R. 6, which significantly raised CAFE standards, and would do much to increase the efficiency of American automobiles.

However, the government does not hold a monopoly on innovation. Many of the great discoveries of our time were accomplished by private individuals and companies. From Thomas Edison's discovery of the light bulb to Henry Ford's perfection of the automobile, private innovators have changed the face of America. It is my hope that the Automotive X PRIZE will once again spur the creative and innovative spirit of American citizens to help us in our fight for energy independence and security.

I would like to thank Mr. Lungren for introducing this resolution, and I urge my colleagues to support it.

Mr. Speaker I reserve the balance of my time.

Mr. Speaker, at this time I have no recognized Members, I think Mr. Feeney does, so I will reserve the balance of my time.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I just want to make sure that I check with Mr. Smith whether that is stopping for red lights that takes 4\1/2\ hours to go across Nebraska.

Mr. Speaker, I yield back the balance of my time.

Mr. Speaker, prizes have a history of encouraging innovation by promoting competition and expanding the talent pool to include a numerous and diverse array of groups and individuals. Those unable or unwilling to secure grants can participate in the race for the goal. With prizes, government funding is not used to pick technological winners and losers. The prize is only awarded if the goal is met. Prizes encourage the investment of private capital and research, even beyond the monetary value of the prize.

I applaud the X PRIZE Foundation for spurring competition and innovation in the race to a more efficient automobile. When the 100 mile-per-gallon vehicle is achieved, citizens of my home State of Nebraska will be able to drive across the State on Interstate 80 on only 4\1/2\ gallons of fuel. This tremendous efficiency would dramatically reduce our Nation's dependence on foreign oil, it would stimulate our economy, and certainly improve our national security.

I am grateful for the vision and enterprise of men like Dr. Peter Diamandis who kindle the spark of innovation that leads to revolutionary technologies.

Mr. Speaker, just a few days ago, Shell Oil Company sent out a press release saying that by no later than 2015 the world would not be able to meet the demands of our economies for oil and natural gas. At just about the same time as that, a group came to my office to brief me on the Automotive X PRIZE. You may have noticed how much harder people will work for a prize than they will for money. Just note the Olympics and what these athletes will do for a prize. So I am very, very supportive of this fantastic idea. I bought the first Prius in Maryland, I bought the first Prius in Congress, and I want to buy the winning car from this competition.

I have here a note from Donald Foley, who is the executive director of the Automotive X PRIZE, and he has noted my desire to buy that winning car. So hopefully we will be driving that to the Congress in not too long.

Thank you very much for yielding.