Kato



Cash For Clunkers?

 

I guess I must be on the wrong page on this "clunker" stuff ...

 

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 per 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 per bbl.

 

So, we all contributed to spending $3 billion ....... to save $350 million.

 

Hmmmmmmmmm. How good a deal was that?  But, I'm thinking that they will probably do a great job with health care though!



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09/19/2009 11:01AM
Cash For Clunkers?
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