Turn Government funded Oil Subsidies into a Renewable Energy Incentive program.

I think the Government should take the tax payer money spent on Oil Subsidies and replace the subsidies with an incentive program to drive innovation in Renewable Energy. Currently we give Oil companies a blank check just for being in business, by eliminating subsidies and replacing them with an incentive program you can spur private investment and innovation for the public good. What I'm proposing is the Government tie the amount of money the Oil companies would receive to the percentage of energy they produce from renewable resources. We can encourage Private research by providing incentives for that investment while also creating budgetary efficiency by ensuring that there is a tangible return on investment instead of a blank check for the status quo.