Got this in an email this morning. Thought I'd share it:
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 to save $350 million. How good a deal was that???...................
They'll probably do a great job with health care though!