AP - Tropical Storm Edouard took aim at Texas' Gulf coast at the height of tourist season Monday, threatening to pick up strength from warm Gulf waters and gain near-hurricane speeds before a projected landfall a day later.
AP - In a reversal, Barack Obama proposed Monday that the government sell 70 million barrels of oil from its strategic petroleum stockpile to help reduce gasoline prices.
Oscar-winning actor Morgan Freeman is in serious condition at a Memphis, Tennessee, hospital after being involved in a car accident Sunday night, according to hospital officials. CNN affilliate WMC-TV of Memphis reports Freeman was in a wreck in Tallahatchie County, Mississippi, about 100 miles south of Memphis.
Barack Obama today called for tapping into strategic oil reserves as part of his plan to provide relief from high gas prices. Speaking before a crowd in Lansing, Michigan, the senator from Illinois called the country's addiction to oil "one of the most dangerous and urgent threats this nation has ever faced."
Oil prices fell below $120 a barrel for a time Monday as a tropical storm in the Gulf of Mexico turned to miss oil facilities and amid talk of political compromise on further off-shore drilling.