Oil Plunges as West Secures Key Oilfields

MSN Money ^ | 03/21/03 | Reuters / MSN

[WillVoteForFood]

.

[hc87]

Has all of the positive effects of a tax cut without any of the negatives.

[danneskjold]

<sarcasm>No Blood For Oil</sarcasm>

[bankwalker]

Crude oil prices actually began their plummet on about March 13. They've fallen almost $10 per barrel since then. What happened on or about that date?

[CFC__VRWC]

Oil Plunges as West Secures Key Oilfields

"I'm really getting tired of saying I'm deeply saddened and troubled by this."

[WFTR]

Has all of the positive effects of a tax cut without any of the negatives.

The only positive effect of a tax cut that this news doesn't have is that it doesn't leave liberals crying in their beer. Personally, I don't see any negative effects of any true tax cut. I have problems with targeted tax cuts, but cutting the rates is good for every American, every time.

It Didn't Start Last Night
Bill

[EggsAckley]

I keep hearing about it dropping, but not at the pump. In fact, I put 15 1/2 gallons in at $2.249 the other day. The strange part is that my van only holds 13 gallons. Hmmmmmm...........

[11B3]

Name me a negative aspect of a tax cut - let's hear it.

[jpl]

Crude oil prices actually began their plummet on about March 13. They've fallen almost $10 per barrel since then. What happened on or about that date?

Global temperatures began rising dramatically.

[Prince Charles]

Excellent news!

[RightWhale]

Gold is melting away. Great time to buy some precious metal futures, eh, buddy?

[Doctor Stochastic]

You might want to check with your State Weights & Measures board (or whatever it's called.) In California (or somewhere else) the W&M guys would check 5 gals, 10 gals, 15 gals, and 20 gals, on the pumps to check if the pumps were accurate. The pumps were accurate at 5, 10, 15, and 20 gals, but about 5% to 10% short at other deliveries. Now the W&M guys check at random numbers of gallons. (I think they actually draw cards or throw dice or something for each pump.)

The above does not apply if the S&M board is controlled by Big Oil Interests.

[kylaka]

I'm as elated as he is sad, that he's deeply saddened.

[hc87]

To the extent that you suffer a short term decrease in revenues and the accompanying increase in short-term interest rates as government borrowing increases to cover deficits, you have a negative effect. I'm assuming, of course, that government borrows to cover the short-term deficit, in lieu of cutting spending. While there is a theoretical possibility that government would cut spending, that doesn't ever seem to happen.

And yes I know the tax cut will lead to greater economic growth over the long term and greater revenues, etc., but for short term interest rate purposes, there is a negative effect.

[Redcloak]

If the anti-war whackos truely believe that this was just about oil, they should insist upon paying $2+ per gallon even after the price of gas drops!