Busn 5200 – Cash for ClunkersMoney 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