It’s a family affair: Former Florida Gov. Jeb Bush announced this morning that he will “actively explore the possibility of running for president of the United States.” Bush says he made the decision over the Thanksgiving holiday in consultation with his family. “As a result of these conversations and thoughtful consideration of the kind of strong leadership I think America needs, I have decided to actively explore the possibility of running for President of the United States,” Bush says in a message posted on Facebook today. CBS News has the full story.
Free falling: Oil fell below $59 a barrel this morning for the first time since May 2009, extending a six-month selloff as slowing Chinese factory activity and weakening emerging-market currencies added to concerns about demand. Reuters reports international benchmark Brent crude is down by almost half since reaching a 2014 high of $115 a barrel in June. A report showing Chinese industrial activity shrank for the first time in seven months in December added to concern about oil demand. China is the second-largest oil consumer after the United States. Brent crude fell to as low as $58.50 on the news this morning, its weakest price since May 2009. Read the full story.
Feeling the pinch: Global oil markets could lose as much as 7.5 million barrels of crude over the next decade if sunken oil prices stall the slate of new oil and gas projects around the world, a new report says. In a report released Monday, Goldman Sachs estimated $930 billion in future oil investments that would bolster production through 2025 are in peril as oil prices have collapsed. Read the full story.
