My objection to lifting the drilling ban is the method by which leases are awarded. Oil is a natural resource owned by all, not just the oil companies.Oil companies should bid on services type cost plus contracts.The winning bidder would be reimbursed costs plus a fee (profit). As there is no risk, they recover all cost plus a fee, there is no justifacation for absurd profits. The contract would require progress on
a reasonable schedule so the bidders could not just sit on a lease as apparently is being done on some leases now. It would not suprise me if new companies would be formed to bid on such a contract, thus
reducing the oil companies monopolistic control of oil in the US. A similar type contract ( or a portion of the previous drilling contract )
could increase refining capacity. This approach is suggested only
as an interim measure while alternate energy sources are developed.

What a bunch of BS… I don't have any more money in my pocket

"My friends, let me be clear" Bush may have caused the drop per barrel last week, but that isn't nearly enough to cover the increases we have seen over the past couple of years! Here in Texas prices have only gone down a penny or two! Thanks, George!!

Mr. McCain he will only be president another couple of months, stop licking his boots. Oh I forgot you need his help to raise money. What A PHONEY!!!!!

THE VILLAGE IDIOT IS RUNNING FOR PRESIDENT !!!!!!!!!!

I've come to the conclusion that McCain is trying to lose by saying the craziest things he can come up with. I guess they figure that Dubya has screwed things up so bad that the next president will have a no win situation on their hands………..that has to be it.

sounds like the oil companies are lowering prices just enough to convince the easily convinced to re-elect them; come november, of course the prices would go right back up. It happened in 2004… oh ye country with the shortest memory…

No way, no how. The only way Bush "caused" the decline is that the crashing US economy means less demand for oil. That's exactly what made oil give back $10 of its $130 rise under a Republican administration.

The Republican Party is broken because of the neocons. Bush in 7 years spent $37 trillion more than Bill Clinton's 8-year administration did. Only the Libertarian Party now stands for the free market and less government spending.

McCain is yesterday's neo-conservative leadership. Vote for the only true conservative in this race… Bob Barr!

The total ignorance of McLame on the economy is astounding. The lower oil price is due to the the oil market seeing a falling economy and calculating a lower oil demand. if McSenile is President the next great depression will be right behind him.

I want to respond to these claims intelligently but I need for McCain to show his intelligence first so that I am not having a one-sided conversation.

I actually have tears in my eyes from laughing at this one.

holy cow, this guy is losing it. This has nothing what so ever to do with hypothetical drilling……..and more to do with people using less…..just wait till winter.

WHAT A JOKE. BUSH GETS CREDIT FOR DROP IN OIL PRICE AND OBAMA GETS BLAMED FOR THE HIGH PRICE OF GAS AT THE PUMP. WELL MAYBE BUSH SHOULD GET CREDIT FOR THE DROP IN THE PRICE OF OIL BECAUSE MAYBE HE DECIDED TO RELAX HIS HOLD ON THE POCKETS OF THE OIL RICH SHIECKS AND OIL COMPANY HIGH ARCHACY.
WHAT A BUNCH OF B.S.

Please explain why he gets credit for the drop, but the blame for the rise goes to the Dems in office.

If a party has no influence when the prices go up…why should it affect the price when it falls? This guy will try to spin anything to make himself look good.

More voodoo economics from the man who knows less about economics than a pig does about Sunday. Tito and others are on the beam: the only thing Bush can do to impact short-term prices is rattle his dull saber at Iran. That's good for an additional $3-5 per barrel on a slow day. The curious thing about Bush, given his background in oil, is that his administration failed consistently when it was time to produce a comprehensive energy policy, one that would lower demand and increase supply. I guess there was more political mileage in the invasion of Iraq. As Scott McClellan has reminded us, that's W's standard for judging issues and options.

Tony,

Sorry to burst your bubble, but most people know that the offshore drilling in the US will not provide oil immediately and will not yield enough oil to affect the market anyway. We invaded a country with the world's second largest proven oil reserves in Iraq, according to our Department of Energy, and that did not lower the gas price at all. Iraq is effectively under our control. The oil companies know where the oil fields are. Yet the price of oil is still going up. No, we have to find an alternative to oil. Offshore drilling in the US will not lower the price of oil either in the short term or in the long term.

McCain may not like it. But his fate is tied with Bush. If Bush's approval rate ocntinues to be below 30s, McCain does not have that much chance. On the other hand, if the Bush's approval rate improves to 40s, then McCain get a chance. Maybe McCain wants Bush to know that Bush should help him more.

Bush can do something that will help to lower the oil price and raise the stock price.

This is absolutely absurd! Did McCain ever stop to think that maybe the drop in the price of a barrel of oil may be due to the fact that Congress (which is in control of the Democrats) was holding hearings on the involvement of the "SPECULATORS" in the price of oil? Of course not. Instead he gives credit solely to Bush, JUST because he lifted the Executive Ban on Offshore Drilling. Well in case McCain doesn't know, there is a Congressional Ban on Offshore Drilling as well! Just because Bush removed half of the Ban, doesn't do squat to the price of oil.

McCain can't give credit to one person for a mere coincidence, which is exactly what this was. It was a comination of multiple things. Several of which are: T Boone Picken's plan to help us remove ourselves from dependence on oil, Al Gore's plan to help us provide all of our electricity cleanly, and Congress holding the hearings, to name a few. I find it hard to believe that lil ole Bush had anything (especially solely) to do with the drop from his removing the Executive Ban.

Get a grip with reality McCain

And he learnt this economic wisdom along with his vast military experience… you know spending 5 yrs in a hole makes you… what?

The GOP message is so retarded that even if GW could talk and the prices would go down, then why does he not continue to talk?

Oh yea, because it has nothing to do with reality, a concept they do not seem to grasp real well. Tic toc, tic toc, please let the debates start.

Peace.

The more he opens his mouth, the more nervous I get. He is so out of touch with reality.

Tony: my plan would be to take all those billions the Bush administration wants spent on wars and offshore drilling and invest it in the development of new technologies for energy acquisition.

Anything between McSame's ears?

Bush may be has half a loaf, McSame has no loaf.

There is already land leased by companies for offshore drilling that guess what, they haven't done anything with yet. So lifting the entire moratorium won't do anything tony. I honestly would be more supportive of offshore drilling and even into the alaska wildlife reserve if we had an actual plan to get off oil. Obviously we have to remain dependent on oil as we switch to alternatives, but I fear if we open up more areas to drilling without such a plan, we'll just get complacent again.
Bush deciding to talk with Iran and Iran piping down on the crazy rhetoric helped lower oil prices much more than the president's lifting of the executive order. If you're going to give Bush credit McCain, at least get it right.

Agreed Tito. If Bush controls the fall in gas prices, he also must be credited with the rise of petroleum costs.

NO! Give credit to Obama! He takes credit for everything that turns out good and blame for whatever turns out bad. Actually he is responsible for neither. He hasn't been involved with anything at all. Now, that's change you can believe in! (If you're a twit!)

this is like taking credit for the sun rising, and blaming your opponent when the suns sets…..

This just proves how little McCain knows about the economy. His argument is so illogical.

Even he states that there would be no oil from increased drilling for 5-7 years. If that is the case then he is saying that oil traders are looking at increased supply in 5-7 years and therefore are dropping the price of oil. I don't know of many traders that are looking 5-7 years down the road let alone 5-7 weeks.

I'll give Bush credit for the prices dropping if this administration accepts the price of oil rising in the first place. Let me remind people when the price of gas jumped through the roof and never came back down, it was during the time of Hurrican Katrina. That was the big break that the oil companies needed.

The other thing that I want to know is when oil prices go up on a daily basis, I see an IMMEDIATE change in the gas prices at the pumps. But when it goes down almost $20, I only get to save $.01 or $.02 per gallon. So who is ripping who off?

Did I just see a flying pig?

That's the silliest thing I've ever heard. GW had nothing to do with gas prices going down.

tony…..you are crying……I wish I couldn't read after looking at your post………lets talk about the last 8 years and why we should continue with the stupidity of the Bush regime……we have had republican presidents all but 8 years of my life…..this is the first that is getting a sewage plant name after him……need I say more
Obama 08

That's what I call out of touch with reality! The guy has no clue as to how markets work. He thinks that because we may get oil from off-shore drilling in 5 or 10 years that had an effect on the market today? When he said he didn't know much about the economy he sure got that right.

He really is living in his own world.

Actually where I live, we've seen prices go from over 4.10 for a gallon to now around 3.70 a gallon since Bush removed the ban. Ironic that people say they haven't seen any decrease when I've seen at least a .40 cent decrease.

However the name calling is really getting old. I know you all believe that "McSame, McLame, McBush, McOld, McWar, McWrong, McRacist" and any other names you think are creative and/or brilliant, in reality just show how ignorant, shallow minded, and immature you all really are. This is a Presidential election, not a reality TV show. So please show some respect for a WAR HERO. I've made it a habit to skip any comment that uses any name calling because it's shows lack of credibility. I'm sure I'm not the only one that does this.

McCain's lost, decreased usage due to both closed factories in China and less driving back in America has dropped the price of oil. Republicans are lying, clueless, and stubborn. Only the democrats can fix our country. (But probably won't)

McCain is really dillusional, or he is counting on the completely ignorant to carry him in November. Bush is to blame for the EXTREME increase in the cost of oil per barrel. Every time there is chaos in the Middle East, the cost of oil rises. Bush has added to this chaos with his invasion of Iraq-totally unnecessary war. McCain, get the facts straight. I can forgive you for confusing the Iraq and Afghanistan borders, but to spread untruths is too Karl Rovelike. Those who just don't get it, do some research on how much a barrel has increased during Bush's tenure.

Yep, I'll give him credit for the increase too - and Cheney. THanks guys! Glad to know you were all - American guys I could drink a beer with. It sure payed off!

Won't somebody please get the "Straight Talk Express" a tune up?

Give credit where credit is due. I think Obama deserves credit for the drop of oil prices, WHY you'd ask? Think about it: Obama went to the ME for a tour the price went down..coincidence? Hold ON.. I was just kidding. I think the price went down due to speculators got caught with their pants down. They're being watch now and may get investigated and that's scared the bejeebees out of them. Lighten up!!

Why don't you take credit for Christmas while your at it. The drop in oil is tied directly to the potential for a more peaceful middle east. Something I believe a Mr. Obama is talking about. I don't think Bush even knows what the word peace means.

Why give him credit, doesn't he own enough oil stock?!?!?
McCain is very laughable.
Obama 08

mccain must have had some of the same stuff to drink that bush had.

mccain you are so sad, I really feel sorry for you.

This is a plea to the republican party. Please stop mccain, he is making you all look like fools.

Bush just like McCain and Obama can't make the oil go up or down. So why would anyone give Bush credit for that.

The price of oil is up to 50% pure speculation. Oil excetutives recently said oil should be half the price it is today. But sure, Bush should be given credit for the recent decrease. Are you kidding me? Bush and Cheney and McCains own economic advisor Gramm are responsible for the outrageous prices but McCain says these same guys should get credit for a small correction. It has alot further to go before prices are fundamentally sound based on supply and demand, $65 dollars a barrel per the big oil CEOs. To get there we still need to see a further $70 drop but McCain doesn't understand. He even admitted it. That is why he sounds so stupid, because he is.

It's about time someone gave President Bush credit for the drop in oil. After all, we can't blame him for the record price surge. But let's credit him with this decline that leaves us paying more than 5x more for oil than the month he took office!

What's next, credit Bush with inventing the internet?

Credit? I wouldn't exactly say this is an improvement. While on the topic of being hypocritical, how about failing to mention how the DNC is also proudly responsible of the small increase we had in oil prices since Bush took office?

I would like to see that dead wood in Washington get sent OUT OF TOWN

Tony,

Do you really think that the people that have the oil today is scared of you saying you are going to do something that won't affect them for 7 to 10 years? Even if you did do something its not enough to last you more than 3 years if you kept all of it in the US? Also, do you not think that the oil companies would put that oil on the global market as well. Think about it people. I am sad to say, your plan does not make much sense. You better list to T. Boon Pickens and figure something else out.

That's about as true as your delusional claim that the rise in oil prices is because of Obama. Keep talking buddy, Obama may not even need to campaign if you keep this up. You have made some critical errors in this campaign and you keep making them and yet people want you to run their country. Incredible!

He gets credit for the decrease only if he takes responsibility for the crazy increases. What a joke. Oh, all is good now. Gas dropped to $3.87 a gallon rather than $4. Yah….we'll be saving money now.

Right now, today, Congress is arguing over a bill to get speculation in the oil and gas market under control. The Republicans want to add 28 amendments to it even though most also agree with the speculation aspect. But just like children, if they don't get their way they are going to vote against this very important bill, not because they disagree with it, but because they are being childishly stubborn. People need to wake up and see what's really going on. They are playing child games in Washington at the expense of average Americans hard earned money.

McCain of course won't be there to show up to vote increasing his WORST voting record in the Senate. Obama is overseas so it would be kind of hard for him to be there.

McCain is right !!

The oil prices dropped right after Bush lifted the presidential ban on offshore drilling and showed that we might be serious.

I'll bet it will drop again if congress lifts the ban.

But they won't, they want tokeep high gas prices.

The democRATs are at this moment floating a bill to increase the gasoline TAX by another 18 cents.

one advice for McCain stop doing town hall meeting where few people clap on everything you say and you think whatever you are saying make sense. "NO IT DOESN'T" talk about solving issues hold on i am sorry you have no plans for anything from healthcare to economy or even war in Iraq and stop blaming everything to Obama.

Oh, P -L-E-A-S-E, Mr Mccain!

Drilling for oil is not the answer: What the McCain's of the world aren't telling you is… if they could pump oil out the ground tomorrow that oil would got to the world market…where China & India would buy it at it's highest cost! Not 1 drop of domestic oil would be used here or lower gas prices. The other contributor is the weak dollar! Have you notice McCain never says offshore drilling to coastal states!

I'd try to comment on the idiocy but I can't stop laughing!!!!!!

Ohhhhhh, my stomach hurts.

McOld doing nothing but criticizing his opponent, rather than discussing his plan for anything….When will America learn?

A shaky old dog… following Obama around… snapping and snarling at gnats and ghosts…

I dont think they had any correlation???

This is so sad. The man is not even thinking logically. He wants to be President when he makes statements like this one??? He has not really said what he would do, what he thinks, just what Obama is doing wrong….it is reaching a bit to say Obama is the cause of gas prices going up. To hear McCain speak Obama is too inexperienced on everything to do anything right!!!!

So how about those Convention Democrats in Denver who were avoiding the Federal AND State Gas Taxes by fueling up at the city fuel stations… you know, the ones where the police and fire dept. and snow plows fill up… I thought most democrats were against a gas tax holiday? But that is exactly what the Democrat Party was taking when they decided to cheat the system.

After the story broke, they imediately accused the Republicans for doing the same thing… the republican party was able to prove this false with wel kept records on fuel consumption and fuel receipts.

I thought you Democrats were also about saving the environment… But instead of saving money and the environment by conserving fuel, you are supporting a huge environmental disaster event at your own convention!

If you really cared about Global warming wouldn't it make more sense to have your convention on the internet or teleconference rather that fill up an entire football stadium and fly thousands of Obama fans into the city, and have them drive to the stadium, sit in traffic, light up the stadium lights, blast off fireworks, and have a huge superbowl like event? Technology is amazing, Conservative talk show host glenn beck recently did the first ever live movie theater broadcast to hundreds of movie theaters across the country in high definition, so I know it would be cost effective and realistic to do something like that.

What a bunch of hypocrites. But hey, I don't believe in global warming anyways so more power to ya.

He's joking, right? What happened to peaking past $140 a barrel?

Why the HELL DID HE DO THAT?

Obama '08

Umm that's total BS. It's Bush's fault we're paying over $4 a gallon, any minor improvement is simply not good enough and I certainly don't thank Bush for it anyway.

"In case you missed it, soon as the President announced that we were going to end the moratorium on offshore drilling the price of a barrel of oil went down $10,"

We don't miss much McCain, we pay attention (you see the rest of us are living in a digital world) and we are noting all of your meaness and silliness. And BTW, the president doesn't get to just announce that the moratorium will be ended. That is a big "we". I pray that Congress doesn't some how lose their mind and lift it.

Is this some kind of a joke? McCain can't actually be out of it enough to believe that Bush could do anything about anything.

this as nuthung to do with the oil prices goin down,, and mccain credits bush??lol,, i laffin my head off here,, this is obsurd,,, it just goes to show that mccain and bush ARE workin together and bush wants mccain to becaome persiednt so he can caryy on bushes dirty work,, no way,, my vote still goes to obama,,,

I think the straight talk express need a new driver it's been off course for a while now, any further and i think they'll drive into the Atlantic ocean.

Bush only increases the price of gas, when it goes down what do you say? Oh, it's the speculators.

No credit here wall street is drunk

I will definitely give Bush credit for the price of oil. No problem or argument there!

And McCain sat back and let it all happen.

Time for a change in November… Voting Obama!

Thank you John McCain… for being a clear idiot and making it easier for any sane American to vote for anyone but you! You ROCK!!!

And this is the person who is going to fix our economy. Yeah right. Let's continue to spend $10 billion a month on the Iraq war for the next hundred years and we will be better off. Americans are going to see right through this one John. Vote for Obama '08…

Nancy Pelosi said vote us democrat in back in 2006 and oil price will be lowered. Well nancy the only thing lowered is my food bill because I have to buy liquid gold to drive my car to work to pay for the LOW gas prices you promised!

How is this contest even close?!? This guy is an idiot!

well, the oil companies already have 33 million acres off shore available to them, and 68 million acres available in the lower 48, so I suggest that they start drilling.

YES it's true but it has nothing to do with off shore drilling. He called in some favors. Get

Did ya see that the Republicans voted down a Bill in the house to force Oil companies to drill in the 30 million acres they are ALREADY leasing ( some even being off shore areas) before Congress would consider openning more land for drilling.

I guess the oil companies need that money to purchase oil fields in Iraq. ( they go up for bid in a couple of weeks) So now we can be MORE dependent on the Middle East. ( THAT'S WHY THE REPUBLICANS WANT TO KEEP OUR TROOPS THIER. THE OIL COMPANIES WILL NEED OUR TROOPS TO PROTECT THIER NEW OIL FIELDS.. DO YA GET IT YET. THATS WHY WE ARE CURRENTLY IN TALKS WITH THE IRAQIES FOR A PERMINATE BASES.
Bush the OIL Man got his oil war and now he'll get his oil fields.
We will be more dependent on the middle east. Tht's the bottom line isn't it?

Wow "tony"!! Read some and do your homework before you speak. You came across as completely ignorant there. How is moving away from using Oil going to cause higher prices exactly? Also, this Oil that noone know if it exists or not and has at this time no way of getting out of the ground going to change anything for us within the next 10-15 years. The fear of more oil pouring into the market 10 years down the line will not lower prices.

Changing to using alternative fuels and make what oil is used more conservative is the plan that the "Dems" have. What is McCain selling that you want so badly to buy??

So its Bush's fault that gas has increased during his time as President but there is no way possible that he could have had a part in the reverse? This seems to be a bit of ignorant thinking. He gets blamed for taking credit for something he very well may have done, but is blamed for not "taking credit" for something he had no control over? It really seems to make no sense to blame anyone but ourselves for this problem. Over-consumption and wastefulness is a staple in American society and no where does it hit harder than gasoline. Usage is down 2.2% from last year. But prices are up 80%. There seems to be a fairly weak correlation between these two. And saying Obama will solve our problems with alternative energy is a joke. It will take 10 years to support ourselves on American oil. It will take at least 30 to develop a battery that will be able to get 1/8th the efficiency as gasoline. We are 50 years away from dependable alternative energy transportation. Be realistic. Oil is the solution for the immediate future. If Obama changed his mind on this one thing alone I would consider voting for him.

Anyone up for Parliamentary government until we can find a worthy candidate???

Well let's see, the price of oil is "rebounding" according to one report I saw today meaning its on the way back up.

Even the White House Press secretary won't even go as far as McCain went. She acknowledged that the supply is larger than expected and at least American demand is down.

BTW - I thought he didn't want to be aligned with President Bush. lol

I guess Bush watched "THE SECRET" and used his strong mental powers to drop the price.

Wow…. that makes Bush WORSE!!! He could have used "words" all this time to reduce the price of oil and insread he let it go from $30-40/barrel to $140. He needs to put those psychic abilities to better use.

Why doen't Bush just stand in front of a "MISSION ACCOMPLISHED" banner and then his powerful mind will cause the war to end. Oh wait….. we tried that strategy already!

It's the simple law of supply and demand and anyone who doesn't understand this is even simpler.

What a bunch of bs!!!! Bush didn't make the price drop…..my gas price dropped 1 cent….Oooohhhh, I might have to go around the block a couple more times, so I can rush back to the station and put more in…..Give me a break!!!!! People are cutting back, that could be the reason…..

The American people aren't that dumb…..Mcwhatever!!!

Lifting the executive ban on off shore drilling doesn't change the congresses ban. So tell me again what difference it made?
Ignorance is bliss.

Paging Mr. McCain's bearings… paging Mr. McCain's bearings…

This might have an ounce of truth if Congress lifted the moratorium at the same time?? McCain is admitting that oil prices are controlled by unregulated speculators. This is a joke. W did nothing but talk. There was no action. No additional oil was drawn. NOT ONE DRIP. In the economics of supply and demand, how does that make the price decrease???

McCain, stop pandering and offer a real plan. I'm sure your smarter than this. All that experience had to mean something.

PLEASEEEEEEEEEE, give me and the American people a break.

Congress is investigating speculators, they have raked the Oil Exec's over the coals, Bush has less than 6 months in office, his word is not worth the breath it takes to speak. His removal of his father's executive order does nothing. Even if Congress would say go ahead, it would be 10-15 years before a barrel of oil is produced.

Obama says he will talk with everyone, and right now it appears the Republicans are clueless as to how to stop him. Hand writing might be on the wall, but it not Bush's words that have lowered the proce of oil.

Tony & Enlightened voter

Please tell me why we should give the oil companies more land to drill on when they haven't drilled on the land we've already given them?

Get Informed!!! They already have land to drill on and they're not using it. If you want more oil complain to the oil companies and tell them to start drilling on the land they ALREADY HAVE.

Yes Bush is the reason the oil is dropping. It has nothing to do with the investigation in to oil speculation going on. It couldn't possibly be due to that at all, it's all the brilliance of the Bush and his magic wand.

I DON'Y THINK SO…..

Oh! So I guess President Bush DOES have a magic wand to lower gas prices!

Grandpa, come inside now and have some soup.

Nice stretch McCain………………….the price of oil is going down because Congress want s to rein SPECULATORS and those speculators want to get out of their positions before it's too late for them.

can we credit Bush for the $20 to $146 oil price increase since he took office too?

What idiots! It just shows how short sited the Republicans are. They obviously think so little of the American people, that they are making stupid stupid decisions that they think will pacify people long enough to vote for them, but these are bandaids. Tony, you need to do some reading to educate yourself because clearly you aren't really educated on alternative options, of which there are many. And alternatives are what make the most sense not more dependence on oil. We need to stop all of our dependence on oil period, foreign or otherwise. Anyone who buys this "drilling now" nonsense is a fool and kidding themselves, and certainly they can't care much about their childrens future either…..or the future of our planet. Tony, open your eyes, you sound so incredibly narrow. This is an issue of what is right to do and what isn't right to do over the long run.. You think your comment makes sense? It doesn't. It sounds like the ranting of someone who doesn't think on his own and backs his party and swallows their nonsense no matter how foolish and stupid it is. Drilling now does not solve ANYTHING.

It's basic economics, folks. When producers expect prices to rise in the future, they limit current production and keep more oil in the ground to sell later at a higher price. That's what's been happening for the past couple of years. On the flip side, if producers expect prices to decline in the future, they produce more now to bank the higher price.

You can argue whether offshore drilling will increase domestic production in 2 years, 5 years, or 15 years. It doesn't really matter, because if producers around the globe think that supply will increase, and prices fall, in the future, then producers will start pumping more, now, to take advantage of today's high prices. So, yes, efforts to increase supply today, such as offshore drilling, will reduce prices today. Just watch…

Yes, the price of oil went down. Did the price at the pump? Nope. thanks again Bush.

My question is so the gas prices will go down by 2030. I want to know (tony) what relief I will get now? Tony to tell you the truth, it doesn't make sense to me. By 2030, I will be 65 years old (I probably won't be traveling much), my children will be grown so I won't be running here and there, and when I look back at what the price was in 2008 and in 2030, it really won't matter to me because by then we will be paying a lot more for gas anyway (the time and money factor).

In fact, by then I hope that we wouldn't need to depend on oil. We should have an electric/battery car by then. I

So I think the best solution is to continue to find other "green" resources and get away from oil drilling. If we keep talking about this drilling, it will never end. We are distroying our earth.

And why did it take so long for anyone to do something about the gas prices. McCain is giving praise - but I want to know why so long? Why now when the election is going on does it matter? No one cared when the price was rising a year ago.

Please people think about this.

If you a selling a product, would you lower your price because a cheaper product will come on the market in 8 or 9 years? Of course not. Isn't it strange that oil prices always seem to drop right before an election…

Given a chance I will slap this piece of scum. so that both his cheeks get to the same size.

He is tarnishing the image of republican party. I pray that he dies before the election.

McCain has absolutely no idea what he is talking about. He claims that he is for conserving the environment, yet he supports offshore oil drilling, which would destroy countless ecosystems and just perpetuate the cycle of our dependence on oil. As a longtime republican, I am losing faith with the party because they are simply proposing the worst ideas. I hate President Bush and I hate John McCain.

As soon as oil drops below $27 a barrel, I will gladly give credit to W. He'd better get cranking 'though. His days are numbered!

the contrast between cnn comments and foxnews comments are such contrast. one liberal one conservative.

it's interesting.

Everybody knows that if we start off-shore drilling today, we would start seeing the oil within 7-10 years. But everybody knows that we're not about to start drilling today or tomorrow or next week. So everybody knows it will be a while, if ever, that we get to benefit from off-shore drilling. Everybody of course, except those dumb speculators who are operating in a cave somehwere. So, these cave-dweller speculators don't have a clue what's going on. But if you can somehow get word to them that "off-shore drilling" has been mentioned somewhere by someone. They imeediately just go into panic mode and the oil prices just come tumbling down!!

What a superb President McSurge is bound to make!!

McCain is crediting Bush's push for offshore drilling for the drop in oil prices?

I seem to recall McCain saying that he didn't know that much about the economy. This certainly confirms it!

This guy is delusional.

(So is your average BO supporter, but we're not talking about them right now.)

Anyone that votes for this guy is a complete MORON!!!!!!!!!!!!
YES, you read it right!

What can a reasonable person answer to such a claim without using words not fit for print?

Humbug is one of the words suited I guess. Bush gets credit for driving down theoilprice but no blame for the prices going up, the loss of value on the dollar, the messed up economy etc. etc.

McCain has his arm so very far up a certain dark place it is really starting to stink. How dumb does he think the people really are?

No no, you silly goose. It's Nancy Pelosi who's made the oil price drop. She, who's done absolutely nothing productive since taking the helm as Speaker, has truly been a marvelous example of a "success," no? The way the Democrats talk, they have single-handedly saved the world, created rainbows, and saved Santa Claus from getting eaten by some Republican. Far be it for Dems. to ever say a Republican has ever done anything constructive. Even a GOP'er can credit a Dem. with doing something noteworthy. Who else but Bill Clinton would have helped us discover the amount of space under the Oval Office desk????

Why should we give Bush credit???? I'm confused-Bush hasn't done ANYTHING, except send this country down the toilet.

Shut up McCain!

The stock market is based on the country's emotional response.

Offshore drilling would scare speculators because it would seem that the United States would not rely on as much foreign oil…hence, the oil futures would not change hands 5 or 6 times before hitting the market, instead it might only be 3 or 4, which results in lower pricing. If Congress ACTUALLY would approve a bill to regulate oil speculation, then the price of oil would drop drastically.

Cuba and China are going to drill off the US coastline (50 miles off FL), so why shouldn't we?

OMG, he's completely delusional. Remember this is the "experienced" world leader that actually thinks Iraq and Pakistan border each other. Grandpa Simpson…er McCain, has clearly flopped from maverick to politician and will say anything that will help him appeal to his partisan base.

He's preaching to the those 27%'ers that actually think Bush is a smart, sophisticated man of integrity. So it doesn't matter if what he says is actually close to the truth, as long as he is propping up Bush or trash talking about Obama, the GOP will eat it up.

If you righties are so pro-drilling, how about making those international oil corporations start drilling on the millions of areas of off-shore land they already lease before moving on to the only land they don't already have access to!

Only the completely brain dead think that more offshore drilling is a short term solution. It would not affect speculators nor supply as it takes so long to go from the ground to the market.

And as a long-term solution, its just as stupid. If you are addicted to a limited resource, grabbing more and more is not a feasible strategy. You need to wean yourself off of your addictions, not ingest more!

We need to take the first steps toward oil independence. We don't have to be completely off of it. But it needs to be supplemented with other options - wind, solar, hydro etc. Whining that they all have temporary imperfections doesn't help anything. The sooner we start the movement toward these alternative energy sources, the sooner we can hammer out the minor problems and lower the costs. But it will never happen if we don't start.

The journey starts with one small step.

I guess we get no credit for all of our conservation over these last few months. That has had more of an impact in my opinion. Besides a $10 decrease with the $120 increase, still leaves Bush $110 in the hole. Does he take credit for that?

How can Republicans be so ignorant as to ignore the huge drop in demand from the high prices? The fact that our surpluses of crude and gas unexpectantly rose sharply from Wall Street estimates is what drove the drops. It was explained simply for every moron out there to read on CNNMoney.com. This is just another example of them blatantly lying to idiots who don't know the difference.

If you want to look at why oil prices suddenly went down, consider that one of the world's biggest cities, Beijing, shut down on July 20. No industry, no cars, nothing that would pollute. Watch how, after the olympics, the prices start climbing again.

Why doesn't the so-called Liberal Press not headline the fact that Big Oil has over 69 Million Acres on which they have the right to drill for oil, but have put off while begging for additional drilling offshore and in the Anwar?

The Oil Spill in the Mississippi River should stop the campaign to drill off the tourist beaches of Florida, Texas, California, etc.

Of all the insane,ignorant statements that have come out of McCains mouth, this one takes the cake! Does he think that the mere sound of Bushs voice make the price of oil drop!!!!!!!!!!! Le't's see. In the past few days he has blamed Obama for the rise in gas prices, and then today praises Bush for the drop in the price of oil simply because he mentioned off-shore drilling! I really thought that George W, Bush was just about the dumbest person I have ever seen. Well,John McCain has certainly dethroned him this week, Where does he come up with this stuff. His handlers should be fired because it's quite evident that noone is taking the time or effort to proof read what he is going to say in his speeches. It's sad, in a way, that a supposedly smart man could say some very incredibly dumb things.

Let me get this straight: the price of oil goes sky high under the "leadership" of the Bush administration. Record breaking prices abound. Now, for a few short days the prices fall and you want to praise Bush for that? Why did it get so high to begin with? Did you condemn Bush when that happened?
Tired of the idiots.

"Hey, if I think of an insulting word and put "Mc" in front of it, it would be like a play on words where people know I am talking about McCain but I am insulting him at the same time! That is SO witty and clever! I should take over for Conan O'Brien! Think about it! McShame, McBush, McDummy…..the list is neverending!"

*Yawn* This just shows the immaturity od most Democrats.

So, it will take 10 years before we see the effects of more off-shore drilling. The longer we wait to start drilling, the longer it will take for 10 years to get here. What are we waiting for?!

didn't you all know that john mccain is an economic genius?

oh wait….

Oh dear, words escape me.

It's time McCain, just pop the pills and ease your pain.
There is a rocking chair on a shady balcony in a lovely nursing home, waiting, just for you. So relaxing, you'll love it there.

Watching the cost of gas go down….savings of $1 a week

Watching McCain in the first stages of dementia….priceless

John McCain is a tool. He is Bush's lapdog. He doesn't know how to use the internet or email. He finished 894/899 (only 5 students were more pathetic) at Annapolis in 1954. He was a member of KEATING FIVE and was bribed into illegal dealings with financial institutions. He's a hack. He consistently has voted against veterans benefits packages. He claims to be qualified for the highest office because, in his own words, he "intercepted a surface to air missile with (his) plane…" A vote for McCain is a vote for Bush's third term of inept backwards buffoon leadership. Haven't we had enough with our current idiot leader? Can we finally vote someone into office who can string a sentence together without sounding like some complete idiot? Bushisms… do we really need McCainisms? He calls Czech Republic and Slovakia one nation still? Does he even understand global current events? I tell you, we need new leadership to change this current "stay the course" mentality. VOTE OBAMA.

Spoken like a true idiot! I think the choir has sang this song before. McCain is just more of Bush!!!

OBAMA '08

Well, it isn't any cheaper at the pumps yet.. McBush..

And… why would I give credit to an OIL man for causing a huge expense in my household which limits my ability to get groceries or medication or even going to the movies….

I'll give credit "when" credit is do.. and it sure ain't with Bush..

BTW - John … where is your FLAG PIN…????

Well Bush and his policies drove up the prices, it's only right that he does something to lower them…not good enough McOld….I noticed a 2 cent drop at the station…YEA BUSH!!!!

How does lifting the executive order on the moretorium affect prices? It is a simbolic effort. Bush began preasuring the congress to lift the real ban weeks before lifting the executive order, and prices went up. Correlation doesn't prove causation. Supply went up because the mideast increased output, Hugo Chavez crushed some rebels, the dollar recovered against the euro, and because demand decreased after the early summer holidays. Bush making a symbolic gesture dosen't cause the prices to go down.
Furthermore I am trying to fully understand the Republicans notion that drilling here will make us energy independent. I think that it would be posible to use our oil and be energy independent but you would need to violate one of the Republicans fundimental ideals and socialize the oil industry. If we allow drilling and protect the free market, that oil will go to the highest bidder. Indian, and China's demand is quickly increasing and thier governments subsidize gas, which further inflates demand. OUR OIL would go to China. It's pretty simple.
The energy debate is more then just gas prices, it should be a complete economic strategy. America needs to do something to keep from being unseated as the worlds superpower, by China. We need another industrial revolution. We missed the boat with stem cell research. American healthcare could have been the envy of the world, but republicans feel it is immoral. Now our option is alternative energy. Make a gas free car, alternative energy power plants, etc. Keep these industries here and let the world beg us to help them out.

Give credit where it is due people. Bush deserves credit for the $10 decrease per barrel, however oil companies shoud give him that credit because prices have not fallen in my city of Atlanta. Bush should also be credited for record deficit, Iraq distabilization, record profit by oil companies, Haliburtons fat belly, Housing crisis, disregard for human life after Katrina and so much more.

The lower price has nothing to do with Bush. The price per barrel is less because the speculators were silenced.

If Bush had such power, then why did he wait 3 years to do something? Oh, that's right, he had to wait until hs oil budddies said it was OK.

I work for an oil company. 5 years ago the executives were all driving reasonably nice cars. Today, they are all driving Maseratis and Ferraris. Me, I'm still driving my 4 year old Saturn and struggling to make ends meet. Boy, those stock options are something else!

I'm disgusted. Anyone who votes for McBush is a complete idiot. I have NO respect for you.

It's foolish to believe that Bush's symbolic gesture effected oil prices at all. The reason oil is actually dropping is because the economy has slowed and people can' t afford to drive so the demand for oil has decreased. Simple economics McCain- decrease demand or increase the supply and the price will decrease. If McCain is crediting Bush for the faltering economy and it's impact on demand for oil, i'd agree. Bush does then in an indirect way get credit for reducing the price of oil.

Really though, what idiot would believe Bush's gesture has any impact on oil and who would try to sell that to people? It's quite ridiculous.

So Bush can wave a magic wand and make prices drop?!
A little agreement w his oil buddies? I'll drop the presidential ban and you can drop prices? Does this make anyone else say she-it?!

This comment by McCain is a further illustration of his lack of intelligence, and a lack of understanding about how this economy works. It is right in tune with the comments by former Sen. Gramm that we are in a "mental recession"; that we are a nation of whiners.

That's not far from suggesting that there's nothing really wrong with our economy. Remember McCain offering the sage observation that "I think things are going pretty well, economically."

If this nation rejects the Presidency of Obama for another mentally challenged Republican candidate, we will once again see European newspaper headlines: "How can 59 Million people be so stupid?"

this is very telling…that every day McSame is disconnected from reality. LOST HIS BEARINGs is an understatement.

this man is TOAST!!!!!

tony, your post makes no sense. According to economists, its congresses' research into limiting oil speculation combined with a variety of other factors that caused the oil to drop.

McCain's claim that Bush caused the oil price to drop just shows his lack of understanding of the political issue and securities. All economists and oil speculators know that Bush's removal of the executive branch's ban on offshore drilling means nothing without Congress removing their ban as well, which, according to political analysts, is extremely unlikely given the current political climate.

So, let all the republican sheep eat up any unsubstantiated claim McCain spouts…

Correlation is NOT the same as causation.

Thanks McBush - you idiot. I was paying $2.05 a gallon when Bush took office 8 years ago, now you want me to give him credit because you think he caused gas to drop from $4.29 a gallon in my area to $4.21?

**** you, you senile old man. You have no clue what the real world is like, in your wife's private jets and mansions.

This guy has no idea how stuff works

McCain must have memory loss…or dementia or something…

Because he has just gone off his rocker this last week…

Oil prices went down…because demand went down….not because Bush did anything.

Looks like McCain is following Hillary's example….hes already at the "kitchen sink" phase of his campaign…

WHAT?

CNN=BARACK HUSSEIN OBAMA #1 HEADQUARTER.

MCCAIN 08!
HILLARY 12!

Senator McCain thought Americans are dumb.
Imagine a bad CEO caused company stock to drop 90%, then the stock went backup by 1% one day. The CEO then said he is right leader for the company, bragged about it. Guess what the stockholders will do: kick him out of the door.

Lets see here, since 2000 (the start of Bush's reign of terror), gas has risen $2.75/gallon. In the past 7 days since the price started to drop, gas has only decreased by $.07/gallon. I'll start congratulating people when it gets back down to $3.00/gallon and this won't happen on this administration's watch.

GEE THAT FAST AS SOON AS BUSH SAID IT

GET A GRIP OLD MAN…..YOUR DELUSIONAL

DRILL HERE DRILL NOW. NOBAMA!

MCCAIN 08!
HILLARY 12!

hahahahah !!..
I mean.. how else can you respond to this kind of idiotic statements without laughing?

Bush will NEVER give anything to the average American. He and McCain do NOT even know we are here!!!! Out with the old, and I mean the very old!!!! AND in with the new!!!! Peace is patriotic and prosperous for the average American. NO MORE OIL MEN in Washington! NO lobbiests. No old rich men!!! And I'm in my 60's. Oh, and NO MORE republicans and I was a republican! Go Obama!!

Careful… I suspect the Republicans will make the price of oil drop to more affordable rates before November to make us think there isn't a problem. They did it once and they'd do it again.

Prices go up, prices go down… Bush has very very little to do with it.

I think I'm starting to get it. So, we should blame Obama for the fact that oil has gone up 250% during the Bush administration (the first 6 years of which, there was also a Republican majority in congress), but now we can thank Bush for this momentary and miniscule decrease. Thanks Bush!

Quincy Magoo is a wealthy, short-statured retiree who gets into a series of sticky situations as a result of his nearsightedness, or latent myopia, compounded by his stubborn refusal to admit the problem.

If that doesn't describe John McSame to a tee!!!! LOL!!!!

Oh please…that is the most pathetic comment I have heard from McSame. He keeps barking about drilling for oil in the ocean…yet Pickens the oil billionaire says we can't meet the needs. McCain must be getting bankrolled by the same Big Oil monopoly that financed Bush/Cheney.

Bush cannot take credit for the small price drop but he surely can take credit for the subprime fiasco, Katrina, Iraq, as well as ignoring our dependence on imported oil.

He's absolutely right.

As the democrats work to raise gas taxes, Bush and the Republicans are actually putting plans together to lower gas prices to the consumer.

The democrats want America to cut back on their consumption so China can have more oil.

Gotta help the poor Chinese, ya know.

The reason the price of oil is down is due to lower demand.

This perhaps confims why McCain said, "The issue of economics is not something I've understood as well as I should."

wow… McCain's certainly been going after the too-stupid-to-breathe crowd… speechless in Michigan…..

BOY….MCCAIN IS A GENIUS….HE DOESNT KNOW HOW TO USE THE INTERNET BUT HIM AND BUSH CAN SURE FIX GAS PRICES..HAHA…PUT HIM IN A HOME…….AND LETS FIX AMERICA…

How STUPID can one grown man be?!?!?!?!?!?!?!?! GOD!!! I remember paying $1.20 a gallon for gas before these senile old repugnants took office 7 years ago. At 4 times more a gallon today, you think any of you morons deserve any credit? I swear one of the qualifications for being a republican politician has to be an EXTREMELY LOW IQ!

First it's a mental recession, now we need to thank Bush for prices dropping from $4.20 to $4.19 a gallon. We have truly become a country of morons! What more proof do we need?

PATHETIC!

If he gets credit for the $10.00 drop he should be blamed for the $100.00 raise.

There may be something to Bush 41's quote about "voodoo economics" if McCain is to be taken seriously. What kind of fetish does Dubya use to make his magic, Big Mac, and why hasn't his Obama stickpin doll worked yet?

From a fools ear, John McCain will give the devil credit if it would improve this chances….

Once again, NcCain takes a complicated issue and breaks it down to a "caveman" level of reasoning. We're not that dumb John, so you'd better start talking to us like adults or you are toast in November.

He forgot that he was trying to distance himself from Bush.

We could not afford to drive as much or take take road vacation that we like to take or taken public transit . McCain you maybe right
Bush has made us all poorer so that we could not buy gas which meant more stockpiles in inventories which mean the suppliers have to get rid of the surplus but the price at the pump a not gone down that much.

Wow, my "friend" McSame is really losing it!! Lifting the ban on offshore drilling MAY have an impact on oil prices in say 10 or so years. Nobody has so much as planted a drill bit off the Florida Keys and this guy is already claiming that the problem has been solved!

If he bothered to read the news, he'd understand that China is keeping people off the roads in order to reduce pollution in time for the Olympics. Because China is a huge consumer, this reduction in driving has resulted in a reduction in the demand for gasoline. Lower demand = lower prices! It's supply/demand "stupid." Once the Olympics are over the demand in China increases and oil prices will spike again.

Is it not surprizing that McCain credits Obama for being influential enough to personall affect the price of gas while claiming he is entirely ineffectual in everything else.

if just talking of drilling is enough to bring down the price of oil, it only serves to proove that the price IS the result of speculators and has no real connection to reality.

Wonder what color of lipstick McCain was wearing when he kissed butt on this statement.

America please wake up! Please use your common sense in November…this is a complete joke…he's got to be kidding…and we are in Iraq were folks are paying less then us on gas!

If that's the case let's just "say" we are going to drill the coast mile by mile. We don't have to actually do it.

A stradegy the Republicans are very good at, I might add.

Thank you Bush and McBush. It is still $78 to fill my gas tank.
Bush got us into this and it does not benefit him, Cheney or McCain to get us out of It.
We can not drill our way out of this. Americans are doing all they can to bring down the price by lowering consumption. This is bringing down the prise. Bush gets zero credit for the lower cost for crude that has not changed anything at the pump.

No wonder you lost in the run for president in 2004…. You are making Bush look like a decent guy…

tony, and what drilling for more oil really do ?? give us a 2% increase in supply.. but there are no place to get it refined.. and who says the oil wont go to highest bidder, we are after all in for free trade and no government regulations..
And then we will run out of oil in about 14 years.. Yeah McCain lets drill and get out of oil…
You could drill in your back yard to too, it looks pretty. So what when prices go up again ?? it will be Obama's fault then ??

Woof, Woof!!! Mr Magoo is at it again. Next, he'll be chasing cars!!! LOL!!! McSenile is a joke that keeps on giving!!!

First it was Bush and Cheney energy policy is not responsible for the increase because the price is set by the free market rule of supply and demand. Now the idiots are claiming its not a free market but something that can be controlled by our national energy policy. Which is it you old coot?

The week that Bush first took office gas was two dollars cheaper than it is now, however we are supposed to be grateful. Down with the Republicans.