Ferrari Mailing List: Re: Fwd: Clunker math

[LarryT (l02turner]

Hi Stephen -
Ditto's the bailouts - if a company fails it needs to be allowed to fail. 
People learn things when they fail.

T Edison had a great quote when asked about 2000 failures to find a filament 
that would work - he said they weren't failures, He found 2000 materials 
that *wouldn't* work.  ;-)

As people said, it was a payoff to the unions. Guess who will have pay 
*again* when the govt/union led GM fails.

re the price of oil/barrel - it was around $70 about 7 weeks ago.  This 
email needs to be updated I guess.  The 13mpg Vs 40 mpg I *think* works out 
to  (remember, I'm no math whiz)

instead of 320g saved /yr it's 500 g saved
instead of $350 mil it ends up being $708 mil.
instead of the CfC program costing $8.57 per $1 spend, it's $4.24 cost per 
$1 spent.

So if going from 15mpg to 40 mpg, the numbers are better than the previous 
example.  And I think, the higher the price per B goes, the less the CfC 
costs  - I think.....

Hope everyone had a good Easter!

LarryT






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From: Stephen Sherman
Sent: Sunday, April 04, 2010 12:14 PM
To: Larry Turner
Cc: 'The FerrariList'
Subject: Re: [Ferrari] Fwd: Clunker math


1st I am not for any bailouts.
That being said a barrel of oil the time I checked was $85.31and the life of 
the car say 5 years.
Also our daughter went from 13mpg to 40mpg.

The oil is a finite resource and taxes are infinate :-(

Stephen
----- Original Message ----- 
From: misc
To: Stephen
Cc: 'The FerrariList'
Sent: Sunday, April 04, 2010 9:34 AM
Subject: Re: [Ferrari] Fwd: Clunker math


Also, just to make matters worse â donât forget the $100m in lost government 
revenue on the unsold $350m in gasâ

I think the program was more an auto industry subsidy than a gas saving 
focus.


My .02
Mark

From: LarryT [mailto:l02turner [at] comcast.net]
Sent: Sunday, April 04, 2010 6:48 AM
To: Mark
Cc: The FerrariList
Subject: [Ferrari] Fwd: Clunker math

We talked at length about the Cash For Clunker program a while back -

Here's a interesting way to look at it...

LarryT

OilAnalysis Time?
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---------- Forwarded message ----------
FromDate: Thu, Apr 1, 2010 at 8:12 AM
Subject: FW: Clunker math

The person who calculated this bit of information  is now & has been a 
professor at The  University
of  West Virginia in WVa for the last forty some
years.  I never looked at the clunker program this way ----
Boy, did he ever
open my eyes !!!!

Clunker Math;
Think of it this way:

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 a
year.

So, the average Cash for Clunkers transaction will reduce US gasoline
consumption by 320 gallons per year.   They reclaim 700,000 vehicles 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 dollar we saved!

I'm pretty sure they will do a great job with our health care, though!

---------------------------------------------------------------------------------------------------------

"I contend that for a nation to try to tax itself into prosperity is
like a man standing in a bucket and trying to lift himself up by the 
handle."


- Winston Churchill







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