Sent: 12/7/2010 1:21:11 P.M. Central Standard Time
Subj: FW: Clunker Math-Obama Style-Results Are In.
Subject: Clunker Math-Obama Style-Results Are In.
The person who calculated this bit of information went to high school in Pittsburgh, PA. He is now & has been a professor at The University of West Virginia in Morgantown, West Virginia for the last forty some years. I never looked at the clunker program in such depth.
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 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! :-)