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 about 320 gallons per year.
They claim 700,000 vehicles – so that's 224 million gallons per
year.
That equates to a bit over 11.5 million barrels of oil.
(19.5
gallons of gas is produced from 1 barrel of crude oil)
11.5 million barrels of oil is about 1/2 of one day's US
consumption.
And, 11.5 million barrels of oil costs about $862 million dollars
at $75/bbl.
So, we all contributed to spending $3 billion to save $862
million.
How good a deal was that ???
They'll probably do a great job with health care though!!
