I searched and didn't find a duplicate of this. I apologize if it's already been posted ...
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 â€" 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, it looks like we spent $3 billion to save $350 million.
How good a deal was that ???
They'll probably do a great job with health care though!!
That is a great thing for America. Just ask the president who thought it up. But look at all of his other "bright" ideas. We go deeper in the hole and he just keeps digging it deeper. The only good thing is that I will die before they even start to repay the loans that he has given away.
Jerry
I also read that the majority of the new cars sold in the clunker program have been foreign cars. :rolleye:
Now you went & forgot to add in the gas companies loss of sales which equate to a higher price/gallon at the pump for EVERYBODY. :yoyo: :yoyo:
:laf:
Also the wonderful idea Oblama had about solving the energy crisis by keeping your tires pumped up to the proper pressure! YAHOO, WHAT NEXT?
How about some of the Oblama supporters give us a explanation on how to do this new Oblama math. :confused: :shrug: cc
One
Big
A**
Mistake
America
Nuff said
Huntinbull