Here are the final numbers on the cash for clunkers, way to go O' bama
What a bargain for us taxpayers !
Did anyone run the numbers ? ? ?
I guess I must be on the wrong page…
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. (high compared to current price)
So, we all contributed to spending $3 billion to save $350 million.
How good a deal was that???
They'll probably do a great job with health care though!!