What a deal or what's the deal?

Read some interesting information about the "Cash for Clunkers Program" that some one on the Obama came up with. It's really going to save us a lot of money. Right?!

Leaders from the independent aftermarket were among the most vocal against the program, and they continue to be so after the fact. As, CARQUEST's Pete Kornafel, chairman of the GAAS scholarship committee,writes:Here's some math from your stories ballyhooing the fact that the average clunker got 15 mpg and the average replacement gets 25.· 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, an average clunker transaction reduces U.S. gasoline consumption by320 gallons per year.
· The total is about 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 ¼ of one day's U.S. consumption.
· And, 5 million barrels of oil costs about $350 million dollars at $75/bbl.
· So, we all contributed to spending $3 billion to save $350 million.

How good a deal was that???