Clunker Math (from a friend in Dallas)...
>
> 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 best-case clunker transaction will reduce US gasoline
> consumption by 800 - 480 =3D 320 gallons per year. =A0
>
> It is claimed that 700,000 vehicles were traded in, so that's 0.7M *
> 320 =3D 224 million gallons / year.
>
> That requires a little over 5 million barrels of oil to produce.
>
> In one year we thus save 5 million barrels of oil, which is about =BC of
> one day's US consumption
>
> (see
formatting link
>
> 5 million barrels of oil costs about $350 million dollars at
> $75/barrel.
>
> So, we all contributed to spending $3 billion =A0plus administration
> costs, to save $350 million.
Na the math is wrong, because for Gov to print a dollar only costs a few cents, while for you to spend it costs a dollar. So there IS a profit :-) And printing dollars creates jobs too.