I guess I'm on the wrong page.
A clunker that travels 12,000 miles a year at 15 mpg uses 800 gallons of gas a year.
A vehicle that travels 12,000 miles a year at 25 mpg uses 480 gallons a year.
So, the average Cash for Clunkers transaction will reduce US gasoline consumption by 320 gallons per year.
They claim 700,000 vehicles so that's 224 million gallons saved per year.
That equates to a bit over 5 million barrels of oil.
5 million barrels is about 5 hours worth of US consumption.
More importantly, 5 million barrels of oil at $70 per barrel costs about $350 million dollars
So, the government paid $3 billion of our tax dollars to save $350 million.
We spent $8.57 to for every dollar saved.
How good a deal was that ???
They'll probably do a great job with health care though!!
Wednesday, September 30, 2009
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2 comments:
How about the over $1 million it is costing just to fly 2 separate jets to Copenhagen, because Michelle is not traveling with her husband, not that anyone can blame her, or the over $1 billion Congress is already talking about to build an Olympic village in Chicago?
Any fuel usage that was saved with the cash for clunkers was used up in flying all those jets to Copenhagen.
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