NEW YORK (AP) -- Oil futures soared again Wednesday to a new record near $95 a barrel after the government reported another unexpected drop in crude oil inventories and the Federal Reserve cut interest rates by a quarter point.

Interest rate cuts generally support oil prices because they tend to send the dollar downward; the dollar is already at a record low against the euro. Oil futures have been driven to record levels in recent months partly because they offer a hedge against a weak dollar.

However, many stock and bond investors were disappointed by the Fed's warning that further interest rate cuts weren't assured because of the risks of inflation -- which is being driven in part by higher energy prices. Indeed, oil investors initially seemed unhappy with the Fed's warning. Crude prices dropped as much as a dollar from earlier highs immediately after the decision was announced, before rebounding due to the greater impact of last week's surprise decline in inventories, the second straight unanticipated drop.

Light, sweet crude for December delivery rose $4.15 to settle at $94.53 a barrel on the New York

SAN FRANCISCO (AP) -- Google Inc.'s stock price barreled through $700 for the first time Wednesday, propelled by a belief that the Internet search leader will become even more profitable as it plants its products and services in new markets.

The Mountain View-based company's shares gained $12.23 to finish at a new peak of $707. It took less than a month for the stock to leap from $600 to $700, building upon a fervor that has lifted Google's market value by 34 percent since mid-September.

During that 6 1/2-week stretch, Google has created an additional $55 billion in shareholder wealth. That dwarfs the total $42 billion market value of another Internet icon, Yahoo Inc., which had a 4-year head start on Google.

Through the first 10 months of this year, Google's stock has risen by 54 percent from 2006's closing price of $460.48. The Standard & Poor's 500 index, which includes Google, has gained 9 percent during the same period.

The latest surge came after Google confirmed plans to become a bigger player in the Internet's social

WASHINGTON (AP) -- The Federal Reserve sliced an important interest rate Wednesday -- its second reduction in the last six weeks -- to help the economy survive the strains of a deepening housing slump that is likely to crimp growth in coming months.

Fed Chairman Ben Bernanke and all but one of his colleagues agreed to lower the federal funds rate by one-quarter percentage point to 4.50 percent at the end of a two-day meeting.

"The pace of economic expansion will likely slow in the near term, partly reflecting the intensification of the housing correction," the Fed acknowledged in a statement explaining its action.

The funds rate affects many other interest rates charged to millions of individuals and businesses and is the Fed's most potent tool for influencing economic activity.

In response, commercial banks, including Bank of America, Wells Fargo and KeyCorp., announced that they were cutting their prime lending rate -- for certain credit cards, home equity lines of credit and other

Credit was once defined as "Man's Confidence in Man." But in fact, the definition of credit today is more like "Man's Confidence in Himself." Using credit today means you have confidence in your future ability to pay that debt. Forty years ago, your parents may have paid cash for their homes and their cars, a largely unheard-of event today. If they borrowed money at all, chances are it was from a relative or friend, and not a financial institution.

Today debt and instant credit are part of our everyday lives. The convenience of instant credit, however, has taken its toll. Many individuals use credit cards to spend more than they earn, and a few of these people actually build themselves a debt prison from which some never emerge. On the other hand, those who never use credit can be denied a loan or credit when they have a justifiable need or use for it. Using credit establishes a history of financial responsibility: Until you establish a credit history, your chances of qualifying for an important loan, such as a mortgage, are greatly reduced.

What is the balance between using credit wisely and staying out of overwhelming debt? Let's look at the facts and some pros and cons.

Installment Debt

Debt comes in many forms, and most types help us in our daily lives -- when used responsibly. Most people cannot buy a home without some financial help, and many cannot buy a car (especially a new one)