Personally (and I know a lot of ppl will disagree with me on this) I'd rather see a specific amount of fuel available for a race, enough for the high performance of F1 but still encouraging the manufacturers to look more into efficiency that could filter down to the road side of things (giving a greener look along with things like KERS) as well as playing a part in races through strategy.
I completely agree with that. The only thing is that do it new engines would have to be developed, and this is going to cost money.
Imagine the savings worldwide if a manufacturer managed to find a way of increasing engine efficiency by even a small fraction.
In my mind I imagine a completey free reign on engine design, type, specs, whether it's N/A, turbo or supercharged, rotary, turbine with CVT or anything else they can come up with. Yeah I agree the development costs would be massive but so could the worldwide savings but then I might just be a bit of an old hippy (with a love for racing) at heart.
Again, I don't disagree, but I just indirectly pointed out that increased development costs don't fit in with Mosley's plans to save money in Formula One, either by standardising parts, introducing budget caps, or both. From now, I'll be thinking as I go along, so forgive me if my post is a little bit rambling. Independent teams could buy engines from a manufacturer, but with the engine being such a crucial part of the car, you've got think about the sport's other regulations, regarding aerodynamics, chassis design and suspension. So that the independent teams weren't getting a free lunch, as it were, and to enable them to be able to do their own thing, rather than just being a different platform to run somebody else's engine, the regulations I just mentioned would also have to be opened up a little bit. This, too, will cost a lot of money, on top of increased engine costs, so measures are still going to needed to cut costs. The more and more I think about it, the only solution that seems to work is introducing budget caps. But this, too, is not the be all and end all, as it were. Manufacturers such as Toyota and Honda have already been researching interesting new ways to power cars for the road and other racing series; so they will have a big head start over other manufacturers and independent teams. The latter probably won't be able to catch up, at least for a reasonable period.

Ayrton Senna: WDC 1988,
1989, 1990, 1991
McLaren: WCC 1974, 1984, 1985, 1988, 1989, 1990, 1991, 1998,
1999, 2007McLaren: WDC 1974, 1976, 1984, 1985, 1986, 1988, 1989, 1990, 1991, 1998, 1999, 2008