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The oil industry, with its history of booms and busts, appears to be in the early stages of its latest downturn. The price of oil has plunged in recent months, reaching its lowest point in more than five years. Here's a quick explainer on how the economics work.Clifford Krauss
A drastic drop in the oil market carved a $4 billion crater in North Dakota's revenue forecast, according to the revised forecast the state issued Thursday. Instead of the $8.3 billion in oil and tax revenue the state had expected to collect in the 2015-2017 budget cycle, the revised projection -- reflecting much lower oil prices, corporate belt tightening, job cuts and shuttered oil rigs -- is $4.2 billion.Jennifer Brooks
Ohio Rep. Bob Gibbs rose to the defense of the late William McKinley Wednesday with the latest in a long series of Buckeye State bills aimed at ending the Denali discussion and preventing a name change for North America's highest mountain.Dermot Cole
President Barack Obama will propose breaching statutory spending caps in the fiscal year that begins in October, putting out a budget Monday that raises spending at Congress’ discretion by $74 billion -- or 7 percent, the White House announced Thursday.Jonathan Weisman
Jordan refused to release an imprisoned female militant on Thursday to meet a deadline set by the Islamic State, demanding that it first needed proof that a captured Jordanian pilot was still alive.Rod Nordland and Ranya Kadri
Notorious former rap music mogul Suge Knight is suspected of running two men over in his truck Thursday afternoon after an argument on a film set in Compton.Ryan Parker and Angel Jennings
The undercover police sedans arrived about noon in a bustling section of downtown Los Angeles. Eight uniformed LAPD officers got out and filed into a historic 12-story building on Spring Street. Later, an LAPD helicopter buzzed overhead as a half-dozen officers kept watch over a rear alley. Officers with a police dog searched a nearby coffee shop.Kate Mather
Three U.S. military contractors were killed in a shooting on the military side of Kabul’s international airport Thursday, military officials said.JOSEPH GOLDSTEIN
Yanis Varoufakis, Greece's new finance minister, has lobbed some rhetorical grenades, referring to his country’s foreign-imposed austerity budgets as “fiscal waterboarding” and calling Greece’s international bailout deals “a toxic mistake.” Now he seems eager to send a more moderate message.Liz Alderman