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 vehicle 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.
The government claims 700,000 vehicles were sold, so that's 224 million gallons saved per year.
That equates to a bit over 5 million barrels of oil.
5 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.
So, the government paid 3 billion of our tax dollars to save $350 million.
We spent $8.57 for every dollar we saved, but
it did remove about 90% of the obama for pres. bumper stickers.
I'm pretty sure they will do a better job with our health care, though.
07 G5 GT
Now serving Boost
272whp 276wtq @10psi