Of the world. And with this chaos in the shanghai markets, there are worries the chinese dont have a handle on their own economy right now, scott. And anthonynythe chinese are also the second Largest Consumer of crude oil in the world. And youve been looking into the impact of that. Reporter yeah. Crude, scott, hit a 12year low today. 33 a barrel. The price has fallen by nearly half just since may, when it was 60. If you drive to work, its like a huge tax break, but its pretty painful if you work in the oil industry in houston. Theres just too much supply now. And if china continu to slow, there will be less demand and gas prices could stay low for a while, scott. Anthony mason, thank you very much, anthony. The folks at dow jones told us today that the plunge this week in the 30 blue chip stocks alone represents a market value loss of nearly 260 billion. Well, ted cruz is watching his stock rise, in iowa. The republicananrontrunner 25 days before iowans cast the first votes of campaig
Our Senior National correspondent Anthony Mason is following all of this. Anthony . Reporter scott, it was a painful day to check your 401 k . The dow is down more than 900 points since monday, thats more than five percent. The catalyst for the selloff once again was china. The Chinese Market shut down after less than half an hour this morning after plunging 7 . It was the second shutdown this week. Investors are worried the chinese economy is slowing. Gdp growth, which hit 12 five years ago, is now below 7 . If chinas in trouble, that could mean trouble for the rest of the world. And with this chaos in the shanghai markets, there are worries the chinese dont have handle on their own economy right now, scott. Pelley and anthony, the chinese are also the second Largest Consumer of crude oil in the world. And youve been looking into the impact of that. Reporter yeah. Crude, scott, hit a 12year low today. 33 a barrel. The price has fallen by nearly half just since may, when it was if you
Single day. Reporter the source of the leak is a hole in a 62yearold pipe. Southern california gas chief operating officer brett lane. I personally apologize to the residents. This is something that, you know, the nuisance that they face, the different issues that they have faced, we do apologize for that. Again, our focus right now is to try to eliminate that nuisance or the issues that they face by stopping the leak as fast as we can. Reporter to stop the leak, the Utility Company needs to drill down 8,000 feet. Theyre using a relief well to intersect the leaking pipe and plug it up. The gas Company Estimates the process will take until april. Christine soderlunds home is less than two miles from the gas leak. She moved after her children started to get sick with unexplained headaches, nausea and nosebleeds. I am worrying about the gas every day. Im worrying about my familys health. Reporter there are 115 wells in the hills that you see behind me, including the one that is leaking, a
If you were a hippie in the 60s, you need to know. Its the dawning of the age of aquarius. Yeah, and Something Else thats cool. What . Osteoporosis is preventable. All osteos preventable . Right on if you dig your bones, protect them. All cbs cares today, we saw new evidence that the barbarity of syrias civil war has not lessened, even after five years. A town is being starved by the dictators forces. Men, women and children are dying in slow motion as one resident put it. Heres elizabeth palmer. Reporter months of deprivation have pushed the smallest and the poorest to the very brink. A mother feeds her child with what looks like broth, but its actually water, flavored with jam. In an online appeal, a man explains, we have no food, no water and no power, and then he bursts into tears. Please, world, he says, we are dying. Activists say the most wretched are making soup with grass, and some have died of starvation. And all this just 30 miles from the capital, damascus, in fertile hill
From maine to maui, thousands of High School Students across the country are getting in on the action by volunteering in their communities. Chris young action teams of High School Students are joining volunteers of america and Major League Baseball players to help train and inspire the next generation of volunteers. Carlos pea its easy to start an action team at your school so you, too, can get in on the action. If you were a hippie in the 60s, you need to know. Its the dawning of the age of aquarius. Yeah, and Something Else thats cool. What . Osteoporosis is preventable. All osteos preventable . Right on if you dig your bones, protect them. All cbs cares today, we saw new evidence civil war has not lessened, even after five years. A town is being starved by the dictators forces. Men, women and children are dying in slow motion as one resident put it. Heres elizabeth palmer. Reporter months of deprivation have pushed the smallest and the poorest to the very brink. A mother feeds her c