Buddy first made a name for himself in 1996 when, at a U.S. F2000 event, he qualified second and finished eighth in a six year-old car. In the same year he also drove in the Dodge Shelby Pro Series, winning a race at Las Vegas after qualifying on the pole.

For 1997 Buddy ran a full season in F2000, winning at Phoenix and finishing fourth in points. He also won the Valvoline Team USA Scholarship, which gave him the opportunity to drive in Europe's Nations Cup. The following year he moved up the ladder to the Toyota Atlantic Series, where he won from the pole at Nazareth, PA. Buddy would spend two more years in Toyota Atlantics, capturing the championship in 2000 after posting five wins.  

Buddy's success drew the attention of IRL driver/team owner Eddie Cheever, who gave him a test drive in 2001. By late in the 2002 season, Cheever was in a position to give him a race seat. Buddy responded in fine style, notching four top-ten, including two top-five, finishes. 2003's results didn't quite live up to the promise shown during 2002, however, and he only posted a further four top-tens.

For 2004 Buddy moved to the Rahal-Letterman Racing squad. The partnership paid off big time during the first year as he won three races - Indy, Kansas and Michigan - and finished third in the championship chase. However, 2005 & 2006 would see RLR and, therefore, Rice struggle with an increasingly uncompetitive Panoz chassis, and top-ten finishes became a rare commodity.

For 2007 Buddy switched teams again, signing with Dreyer & Reinbold Racing. While not a threat for victories, he was able to notch ten top-ten finishes, including three top-fives in '07. Buddy is expected to be back at D & R for the 2008 IRL season.  

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