The way though to reduce costs is to remove the complexity from the expensive v6's ie. standard ecu, twin turbo, and ERS units etc. This would leave some budget money for in season updates, just like in the V10 days. Engineering competition is what F1 is all about. Much better than your 'financial competition'. 
Im speechless, I feel like I went to watch some award show and ended up with the prize!!
So after the huge costs sunk by each of the 3 engine makers into the hybrid, they should remove the expensively created methods of using half as much fuel to get more performance.
And then use the money saved to make multiple in season updates to try and get back to that performance? And the good old days are now the V10s, not last years V8s? Ok!!!!!
I am sure you went to read through the engine regs like I suggested, I will just set out the part that you need to know as it might make someone point out that what you are saying is fantasy that cannot be taken seriously
This would leave some budget money for in season updates, just like in the V10 days.
-Apart from the fact that a big component of the 'ongoing' charge for the engines is the development cost, removing those parts would turn F1 into a joke. It would have to be a whole raft of regulation changes, like the big change to go to hybrids, so the next one is in about 4 years or so, the clever engine makers would target that as an opportunity to try win themselves, and as soon as the format is agreed they will start preparing (like Merc did for 2014)
This would leave some budget money for in season updates,
-ONLY ENGINE MAKERS MAKE UPDATES ON THE ENGINES AND THEY HAVE TO MAKE THEM AVAILABLE ON EVERY SINGLE ENGINE this means both the rich and poor customers of a maker would be forced to implement EACH TIME there is an update, this ofcourse costs most money, so the money saved by a team paying less 'rental' fees would be spent on these engine updates through the season instead according to your understanding, and you can keep a straight face?
Engineering competition is what F1 is all about. Much better than your 'financial competition'. 
-Engineering competition is what F1 is all about. Much better than your 'financial competition' - you typed or cut and pasted it but are advocating the engine makers who were not good enough to get it right to spend their way above other teams, and indeed 2 have already been put out of business by the cost of the Ferrari and Renault engines. But you want the engine makers pet teams to be allowed to spend even more, raising the price even more for all their customers and everyone elses?
Much better than your 'financial competition'. 
Thats why they made the rules - to try and reduce the 'financial competition' part by agreeing to some fixed rules on spending money. And now people can type or cut and paste mantras calling for those rules to be torn up and 2 teams try spend their way above Mercs customers, oh yes and Honda as well. In the meantime the author of those mugbait items has since given up and turned instead to competing within these rules and hoping to do better, someone also took away his trophies, but I dont think that has had any effect, but at least Horner is no longer making these cheap and embarrassing claims
Its just people on forums
This is the likely order next year IMHO - Merc then Mclaren mixed with the Merc customers - then a mix of RBR, STR, Ferrari, Sauber - This is likely to be the case till 2017 earliest