Cash for Clunkers Email_ not snopesd

[fiddle mike]

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 "Cash for Clunkers" 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 $350 million dollars at $70/bbl.

So, we all contributed to spending $3 billion to save $350 million.

How good a deal was that ???
 

[f6john]

I'm being sarcastic, 700,000 multiplied by say $30,000. That is who benefited. Car dealers, sales people, the manufacturers, and banking. As if the billions poured into the automakers wasn't enough, I heard a little news blurb the the taxpayer can forget about ever recovering the bailout money. Big surprise there. Business as usual in Washington.

[Sludge]

the thing is.. most of the cars purchased were foreign cars.. so we just pumped the cash right off shore.

[RoadKill]

I have SEVERAL junk cars that would qualify but I have to keep fixing them and driving them because I just payed for some A--hole's new car! at least $4500 of my tax money was misappropriated to fund those wealthy enough to afford a car payment! Taxpayer gets screwed AGAIN! Thanx for the "CHANGE" !