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From: rba...@rpbakerfoundation.com
To: rba...@rpbakerfoundation.com
Sent: 12/27/2010 12:59:00 P.M. Central Standard Time
Subj: Clunker Math
Another screwing we got , and it's driven the price of used cars up!
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 vehicle that travels 12,000 miles a year at 25 mpg uses 480 gallons a
year.
So, the average Cash for Clunkers transaction reduced 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.
5 million barrels is about 5 hours worth of US consumption. More
importantly, 5 million barrels of oil
at $70 (could be approaching $90/barrel shortly) 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.
I'm pretty sure they will do a great job with our health care, though.
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