GREEN
06/28/2010 04:58 pm ET Updated May 25, 2011

X Prize Competition For Oil Spill Fix Announced

WASHINGTON (AP) -- You might be able to get rich quick if you can fix the BP oil spill.

The X Prize Foundation wants to make fixing the BP oil spill a multimillion dollar competition. It has done the same for space, fuel efficient cars and gene-mapping.

Foundation Vice President Francis Beland (BE'-land) says his group is kicking around the idea. They've already received 35,000 unsolicited ideas for fixing the oil spill in the Gulf of Mexico.

Beland told a special oil spill conference Monday that his group is seeking advice from the public on how to handle such a competition. The foundation also has to raise money for a prize. X Prizes are usually $10 million or more.