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And Zandar, you're forgetting that the real reason for cash for clunkers was to get those old, evil polluting gas guzzlers off the road, in addition to stimulating the economy.
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That's true; and, as ARED_97 pointed out in the first post, this equates to a whole quarter day's worth of oil a year.
But wait! As Svxestantialist and Maxo have mentioned, those figures are skewed! It's a vast, right-wing conspiracy!
If the vehicles were driven 15,000 miles a year instead of 12,000, and the cars replacing the 15 mpg clunkers were getting 40 mpg, that's actually 625 gallons a year; not 320.
So, we're at 438 million gallons a year (rounding up), not the paltry 224 million ARED_97 said.
Further, if each barrel of crude makes roughly 20 gallons of gasoline, that's now almost 22 million barrels a year, not the measly 5 million ARED_97 estimated.
That means, instead of saving a ridiculously trivial 1/4 day's oil consumption, we save a whole day's! As long as all vehicles being replaced had 15 mpg and the replacement vehicles had 40 mpg and they were all driven 15,000 miles a year . . .
All that, plus we're sticking it to OPEC by reducing our oil consumption by 0.00274%! Take that, man-made global warming!