Busn 5200 – Cash for Clunkers
Money for Clunkers: A clunker that travels 12,000 miles a 12 months at 15 mpg makes use of 800 gallons of fuel a 12 months. A automobile that travels 12,000 miles a 12 months at 25 mpg makes use of 480 gallons a 12 months. The federal government claims 700,000 automobiles had been exchanged so that is 224 million gallons saved per 12 months. That equates to a bit over 5 million barrels of oil. To place this attitude, 5 million barrels is about 5 hours price of US consumption. Extra importantly, 5 million barrels of oil at $95 per barrel prices about $475 million dollars. The federal government PAID $three BILLION to avoid wasting $475 million. What's the ROI ? Do you assume it was price it?