CASH FOR CLUNKERS

 

What a good deal! THE NUMBERS ON WHAT WE SAVED FOR "CASH FOR CLUNKERS" PROGRAM  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 320 gallons per year. They claim 700,000 vehicles - 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. And, 5 million barrels of oil costs about $375 million dollars at $75/bbl. So, we all contributed to spending $3 billion to save $375 million annually. If you don't consider the time value of money, we break even in only eight years.  Some of the money spent actually will stay in the USA with American manufactures, however, a very large portion goes to the Asians and Germans.  Are we smart?  How good a deal was that ??? The government will probably do a great job with health care though!!

 

 

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