In the wake of the devastating Gulf oil spill, the X Prize Foundation, best known for helping launch the private spaceflight industry, has announced it will be holding a $1.4 million competition aimed at inspiring “a new generation of innovative solutions that will speed the pace of cleaning up seawater surface oil resulting from spillage.” The team that demonstrates the ability to recover oil from the surface of the sea most quickly and efficiently will win a $1 million prize, while the second and third place teams will earn $300,000 and $100,000 respectively.