Cash for Clunkers Program:
Think of it this way -
A clunker that travels 12,000 miles a year at 15 mpg uses 800 gallons of gas a year. (Trade-in Avg.)
A vehicle that travels 12,000 miles a year at 25 mpg uses 480 gallons a year. (New car avg. in program)
So, the average Cash for Clunkers transaction will reduce US gasoline consumption by 320 gallons per year.
They claim 700,000 vehicles were traded, so that's 224 million gallons saved per year.
A credit of up to $4,500 was given on each of these 700,000 vehicles traded in.
That equates to a bit over 5 million barrels of oil. 5 million barrels is about 5.5 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 for every dollar to be saved.
I'm pretty sure they will do a great job with health care though...
_________________ " SILENCE IS CONSENT "
Made to Government Specs: 1) Measured with a micrometer. 2) Marked with a chalk. 3) Cut with an axe.
Jim N7UAP - Bellingham, WA / InterceptRadio.com
Last edited by Jim on Sat Jan 09, 2010 6:52 pm, edited 1 time in total.
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