My cousin, "pups and bucks" sent this. Interesting calculation.
The person who calculated this bit of information went to high
school in Pittsburgh, PA. He is now & has been a professor at the
University of West Virginia in Morgantown, West Virginia for the
last forty some years. I doubt many of us ever looked at the
clunker program in such depth.
CLUNKER MATH
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 brand new car 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 so that's 224 million gallons saved
per year. That equates to a bit over 5 million barrels of oil.
Five 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.
The "Cash for Clunkers" program cost taxpayers $3 billion dollars.
Therefore, the government paid $3 billion of our tax dollars to
save $350 million.
We spent $8.57 for every dollar we saved.
I'm pretty sure they will do a great job with our health care,
though...
The person who calculated this bit of information went to high
school in Pittsburgh, PA. He is now & has been a professor at the
University of West Virginia in Morgantown, West Virginia for the
last forty some years. I doubt many of us ever looked at the
clunker program in such depth.
CLUNKER MATH
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 brand new car 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 so that's 224 million gallons saved
per year. That equates to a bit over 5 million barrels of oil.
Five 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.
The "Cash for Clunkers" program cost taxpayers $3 billion dollars.
Therefore, the government paid $3 billion of our tax dollars to
save $350 million.
We spent $8.57 for every dollar we saved.
I'm pretty sure they will do a great job with our health care,
though...