trading at $47 a barrel. cut in half. great news for producers. and quite frankly for the stock, exxonmobil's stock has dropped by $50 billion. other big players like chevron and connickco phillips hit hard. and one of the reasons we're in this mess we are starting to see job cuts in that sector. job cuts in houston. some of these are high-paying jobs. >> as cutting back on things like risk and expiration. you're not going to take risks if the money's not there. >> some of these producers are hedged. there are hedges against some of these laws for some producers. 58 minutes after the hour. the breaking news this morning. the breakthrough in the search for airasia flight 8501. "new day" takes that up right now. ♪
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