It doesn't add upcreated 9/16/2009 - 7:23 am, updated 9/16/2009 - 11:10 am by Chris |
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 reduced US gasoline consumption by roughly 320 gallons per year.
They claim 700,000 clunker vehicles were turned in under the program– 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 (0.07% or 7 one hundredths of a %).
And, 5 million barrels of oil costs about $350 million dollars at $70/bbl.
So, our government just committed the taxpayers to borrowing and spending $3,000,000,000 (that's Billion with a "B") plus interest to save $350 million.
How good a deal was that ???
But, they'll probably do a better job with health care, right???
- Add new comment
- 164 reads
- Permalink
Other stories that might interest you:
- Stimulus or hostile takeover?
- Absurd! U.S. provides millions in foreign aid to countries that it borrows billions from
- Chuck Norris - $200,000 for Capitol Hill bottled water?
- Water, Water Everywhere...Except for California's Farms
- Broke Down, Tore Down, Beat Down, Busted And Disgusted By This Economy
- 1.9 million fewer workers now than when the stimulus was signed
- Contents of Medicare database withheld from public scrutiny
- Author of stimulus bill linked to the companies that benefited
- Sweet! I'm eligible for free medical under the new health care laws
- IRS hiring 1000 new employees at $93 million to monitor healthcare implementation
