approximate prices up and iraqi exports are at the highest since 1980 and the oil price falls, the dollar strengthens and the euro is near a nine year low, you will see how it all feeds to each other. put it all together. serious issues now, you have global demand weak because economies are starting on feel the real pressure. all right, thanks very much. richard quest there. now, we can bring you this development as far as the price of oil, brent crude oil, just fell below $50 a barrel for the first time since may of 2009. this is a major development, earlier, just yesterday, it was
funeral for new york city police officer rafael ramos. he along with his partner officer wenjian liu were shot and killed in an ambush as they sat in their patrol car in brooklyn. former president george h.w. bush was admitted earlier this week into a hospital after experiencing shortness of breath. a family spokesman says the president is making progress and discussing when he can go home. call it the gift that keeps on giving. gas prices falling to their lowest level since may of 2009. the national average now, $2.32 per gallon. triple a says gas prices have fallen for 92 straight weeks. as jeb bush officially considers a 2016 presidential run, we re getting a brand-new look into his eight years as florida s governor. a pro-democratic group releasing a slew of e-mails from his time in office. the document dump comes after bush recently announced that he would release some 250,000
response without even seeking assistance from the government. anyway, back to the point. in may of 2009 our president made a statement that a cyber attack by a nation state is, in fact, an act of war which gives him the authority to respond with cyber offensive means and to use all the elements of national power to deal with that offensive capability that the nation rendered on us. what does that mean, general? we ve been hearing from ed henry that the president has been meeting with his advisoouple of this on a daily basis. so far there s no official word. what do you believe the united states will do? well, first of all, i think they ve got to get the forensics right, and i m certain that s part of what is taking place. in other words, what is the culpability of north korea? sources are saying they are cup pabl wrash did they use a third party or proxy to do that? sources are admitting that. i think they want to make that certain. they ve got all of that evidence. there are issue
we have thomas with us. the new york times we ll start there. the price of oil dropped to just under $56 a barrel yesterday marking its lowest level since may of 2009. officials have declined to hold emergency talks on the oil crisis as opec refuses to cut production. gene, the russian ruble has collapsed this morning to new lows. what an economic crisis for russian and vladimir putin. this is a nightmare economic scenario. they are scrambling. raised interest rates to 17%. it didn t work. it didn t work. so, you know, it looks like it s going down and so when the ruble collapses what happens? european markets are spooked this morning. and what does this mean for vladimir putin? what does this mean for ukraine. what does it mean for everything
look at monday. crude oil prices fell nearly $2 today, to close at $55.91 a barrel, the weakest level since may of 2009. opec has refused to cut production despite a glut of global supplies. and consumers are seeing good things happen at the gas pump. the prices have dropped to a five-year low. according to aaa, the national average for a gallon of gas is $2.55. i got it for $2.33, saw that, boom, i was in there. north american energy ministers are meeting in washington today to discuss the keystone xl pipeline and falling oil prices. opponents of the pipeline are also waiting to hear from the nebraska state supreme court. the court is deciding whether transcanada s methods of obtaining land rights for the proposed route were constitutional. a ruling could come by the end of the week. extracting the oil is difficult