Economics
Abbott Faces Oil-Price Shadow Over Booming Texas Economy
Texas Governor-Elect Greg Abbott (R-TX) listens to questions from the press after a meeting at the White House December 5, 2014 in Washington, DC.
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Texas has a new governor for the first time in 14 years, just as tumbling oil prices challenge a boom that created 1.5 million jobs in the state since the recession.
Greg Abbott, a 57-year-old Republican, took the oath of office Tuesday morning, becoming 48th governor of the second-most-populous U.S. state. He follows Rick Perry, the longest-serving governor in Texas history and a former presidential contender who may try again in 2016.