See the story here. Although I like Webb, I'm not surprised that he pulled himself out of the running. He's an independent guy ("maverick" would be the right term) and not someone who is likely to relish the discipline and spotlight of a national campaign. It's also a bit hard to imagine him enjoying being vice president.
Gaius Publius: The Dying Fossil Fuel Industry - The oil industry is on a downward trend, and the trajectory could be faster than most anticipate.