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Politics : Politics of Energy
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To: Bearcatbob who wrote (8320)5/19/2009 7:31:55 AM
From: Road Walker  Read Replies (3) of 86356
 
" It will be costly; the Transportation Department last year estimated that requiring the industry to meet 31.6 mpg by 2015 would cost nearly $47 billion. "
And this will come from where?

Part of it will come from this... US daily gasoline consumption:

"9,286,000 barrels/day (390 million gallons/day)"
eia.doe.gov

Figure if we can cut use 100 million gallons A DAY, that will save, at today's price, $225,000,000 PER DAY. Another good assumption is that since the US uses ~25% of the worlds oil, that a significant decrease in US consumption would tip the supply/demand towards cheaper oil... and those extra dollars would feed into the economy.

Now if you want to get into the financial benefits of the more ethereal stuff like reducing the trade deficit, or the national security benefits of less imported oil, we can.

But suffice to say $47 Billion is a bargain.
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