Cash for Clunkers [from the spam filters]

Clunkers...Here are the numbers:

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 1/4 of one days 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.

How good a deal was that???

Obamanomics at work, or is it the NEW math?