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Cash for clunkers

Posted: Fri Dec 17, 2010 3:29 pm
by $parechange
Clunker Math
>
> The person who calculated this bit of information is now & has been a
> professor at West Virginia University in Morgantown, West Virginia for
> the last
> forty some years. I never looked at the clunker program in this way.
>
> Think of it this way: 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 were taken off the road 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, we paid $3 billion of our tax dollars to save $350 million.
>
> Bottom line, we spent $8.57 for every dollar we saved.
>
> I'm pretty sure they'll do a great job with our health care, though.
>
>