Morning Rundown

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Libya: In Libya, the scene on the ground continues to deteriorate. Last night, Moammar Khaddafy made a brief and bizarre, even for him, appearance on state television to illustrate that he had not left the country and has no intention of doing so. It appears this could be the end of the Libyan dictator’s forty-year rule. It cannot come soon enough for the protesters in Tripoli, who say Khaddafy loyalists are waging an all-out massacre to clamp down on demonstrations.

The violence is creating major fluctuations in the price of oil that will be felt all over the world. As international oil companies shut down their vast operations in Libya, the price of crude oil has spiked to levels not seen since 2008 – and the price at the pump in the U.S. inches closer to the dreaded $4 barrier.

New Zealand Quake: The second largest city in New Zealand is a scene of utter devastation following a 6.3 earthquake that struck during the lunch hour, leaving scores dead and possibly hundreds still trapped under rubble. The quake was shallow and the damage is widespread.

Rahm: Polls open this morning in Chicago and all signs point to a victory for Rahm Emanuel in that city’s mayoral race.

Slain ICE agents: The funeral for the slain ICE agent is today in Texas. Hundreds came out for a memorial service last night.

NBA: New York Knicks fans out there will be forgiven for having a little spring in their step this morning: in one of the NBA’s biggest trades in years, superstar Carmelo Anthony is headed to Madison Square Garden.

On The Daily Rundown: Jim Holperin is one of those Wisconsin Senate Democrats hiding out in an undisclosed location across state lines– he joins us to talk about this budget fight. We’ll have the latest from NBC’s reporters in the Middle East on the situation there and Mark Mazzetti of the New York Times joins to discuss the unfolding drama over Raymond Davis, the outed CIA contractor being held in Pakistan.

Morning Rundown

Updated