After paying out $10million for the first non-government space flight, the X Prize Foundation is coming back down to Earth. It has announced a prize of $25million for the company that produces the first commercially succesful car with a fuel consumption over 250 miles per gallon. The money goes to the first company to sell 10,000 of such a super efficient vehicle, though the exact rules and requirements are still being worked on.

via Jalopnik, where they have the following take on the McDonalds franchisee who runs his car on the waste oil from his burger bars–

Man, here’s a dichotomy. A Mississippi man who owns four McDonald’s franchises has converted his Ford pickup and his VW Beetle to run on excess grease from his stores; the four locations dispose of 10,000 gallons a year, giving him basically unlimited supply of food. According to him, it’s about environmental sustainability and independence from foreign oil, yet ironically, dude owns four McDonald’s franchises; rainforests are being clearcut for land to raise cattle to satiate the world’s appetite for meat, and all those cows release volatile organic compounds out their bums, which leads to air-quality problems like we see in the Southern San Joaquin Valley. That said, we’re a vegetarian and our car has a V-8. We’ll shut up now.

Greasecar.com, for all your fast food fuel supplies.

Technorati tag: Economy, Transport, Biodiesel