$4 million in prizes to reduce oil consumption

In the face of $140+ barrel oil (and heading higher), peak oil, and global warming comes an ever-growing rally cry of "Freedom from oil!"

For those fighting to achieve that freedom, another tool was just added to the arsenal: The Freedom Prize:

The Freedom Prizes will address the challenge of oil dependence using American ingenuity and the spirit of competition.

We will be awarding over $4 million in Freedom Prizes to inspire industry, schools, government, military, and communities to significantly reduce their use of oil, thereby promoting America's national security, economic prosperity and health.

At the moment, the Freedom Prize is creating the rule set -- actual prizes won't come until fall 2008. And, $4 million spread across five categories (industry, schools, government, military, and community) won't necessarily take us that far.

But, the X-Prize has not necessarily been about guaranteeing financing, but rather in providing visibility and motivation for a challenge, whether private enterprise, putting someone into space, or commercializing 100+ mile per gallon cars. And, the visibility provides education and knowledge for the rest of society.

While the prizes won't end America's addiction to oil, it looks like it could be $4 million very well spent towards awareness and inspiration. For the moment, the Freedom Prize is something to keep an eye on; who knows whether it'll prompt attention to some silver BBs to help change the game for energy challenges.

Photo via Joguldi