A vehicle at 15 mpg and 12,000 miles per year uses 800 gallons a year of gasoline.
A vehicle at 25 mpg and 12,000 miles per year uses 480 gallons a
year.
So, the average clunker transaction will reduce US gasoline
consumption by 320 gallons per year.
They claim 700,000 vehicles, so that's 224 million gallons / year.
That equates to a bit over 5 million barrels of oil. 5 million
barrels of oil is about ¼ of one day's US consumption..
And, 5 million barrels of oil costs about $350 million dollars at
$75/bbl.
So, WE all contributed to spending $3 billion (cost of Clunkers for Cars) to save $350 million.
How good a deal was that ?? $3 BILLION for $350 Million.....
They'll probably do a great job with health care though!!
