Yes, somebody makes money on every "whys' move this administration makes. No, that's not a mispelling in the title of this blog, either.
Thanks to a friend for posting this "wisdum" math. This populist type of Obama madness may just get him re-elected
> The person who calculated this bit of information is now and has been a professor at the University of West Virginia in Morgantown for the last forty some years.
> 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 of gas a year.
> So, the average Cash for Clunkers transaction will reduce gasoline consumption by 320 gallons per year.
> The government claims 700,000 clunkers have been replaced 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 $1.00 we saved.
> But I'm pretty sure they will do a better job with our health care.