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Politics : Ask Michael Burke
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To: lorrie coey who wrote (73910)1/18/2000 3:42:00 PM
From: Tommaso  Read Replies (1) of 132070
 
Not to get too excited, but crude oil prices have gone up nearly $2.00 a barrel the last two trading days. In terms of its low in the last year, that's a huge short-term increase, meaning that in two days the amount of dollars flowing out of the US for oil increased 16% over what was flowing out a year ago, and 8% over what it was at beginning last Friday. At some point this cash drain has got to tell on the American economy. (The monthly distribution this morning from Permian Basin Royalty Trust was about four times the size of what it was a year ago.)
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