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.

anything that gets done with gas prices are just going to straight into the Saudi's pockets. Even if gas was 10 bucks a gallon we'd pay it. You know why? because this country has been asleep at the wheel and has made no effort to move towards domestic renewable energy and we have no choice but to pay. That last thing this country needs is lower gas prices, sustained higher gas prices will help fuel the revolution so we can get out of this mess and get to alternative energies. We could have made HUGE advances in technology if we actually gave a crap in the 90s.

McCain's polling people called me twice last night. I'm starting to feel like a BFF.

How disorganized could his campaign be?

Is this McCain the whiner talking? He needs to think before speaks and stop this foolishness. How stupid does he really think the public is anyway. Insulting. And stop the whining we have heard all week long.

Amazing McCain. One day he says that the problem is all oil supply. The next day the problem is clearly about speculators being less fearful, and McCain wants us to praise the Chief Thief about the oil price declining? Won't be fooled this time.

So the price of oil shot up from $60/b to $147/b in one year timeframe and it going down $10 from its all time high is good news in the McCain camp? This is just as bad as their Bush's view that they hedge away $100 million from the fed's deficit, but ignore the fact that we're still $300 million in the red.

Right! And if you believe this I invite you to join the Straight Jacket Express!

Economics.

If the value of oil will increase more per year than other investments, those who control oil will not pull it out of the ground. If they have reason to believe that the value of oil will not increase more per year than other investments, they will pull it out of the ground.

So even though decisions to drill offshore would not seemingly have an impact until that oil hits the market, in fact any event that effects the future price of oil (such as higher supply in the future) will have an immediate effect on the amount of oil being produced, and gas stations will lower prices as higher oil supply means lower price for them.

Mr. Uh-bam-Uh sure doesn't get any, uh…er…credit! Not that he'd want it! He wanted high gasoline prices to appease his ecofascist constituents and would undoubtedly tax gas to raise the prices even higher.

tony, what is YOUR plan for the next 15 years? Drill Alaska and offshore (which will take 10 years to develop anyhow), adding a drop in the bucket to the overall supply? Seriously, why are so many republicans so out of touch with reality?

There are more capped wells in Texas ready to go quickly then we'll see functioning wells in 15 years of offshore drilling. Get a clue.

If only the President of the United States had that much power. Remember when he begged the Saudis to increase production? That didn't work. Now, somehow removing a redundant executive order banning offshore drilling makes prices shift dramatically, even though the ban still exists? Anyone who believes that is only proving that the American education level is shockingly below where it should be. That or No Child Left Behind has done exactly what the Bush administration wanted it to do: make us dumberer.

Have to repeat myself he is toooooo old!!!!!!! Question is gas prices down for the consumer do you see it….. same old game with the same old repub…….. this is the psycological game part he talked about…..fear mongering the game they play …dont get trapped in this game they are idiots all of them….. the real reason is because Iraq is about to throw them out of their country without signing that contract for their oil to be stolen……. think about it people please!

Too little – too late!

And your credit to Mr. Bush had to be accompanied by a discredit to Mr. Obama (which is rather flimsy)? Is this the best you can do sir? Senator Obama has remained stoic and exudes an aura of being unperturbed while everything is being thrown at him and his wife. In addition he has stood his ground without being confrontational. He is a diplomat, among other attributes, and I eagerly await crunch time when he "pumps up" the volume. Whether or not this man becomes the victor I truly believe that he will save the best for last. Brace yourselves!

We need to air drop Pelosi and Reed into the ANWR. Let them spend their August vacation communing with nature whilst cooking over caribou dung.

Can we also give him credit for the run-up from $30 to $147 a barrel?

How about for the 4,200 dead U.S. servicemen?
How about for the $3.8 trillion (66%) increase in our national debt?
How about for our "psychological" recession?
How about for stagnant real wages?
How about for the housing market fiasco?
How about for the Katrina mess?
How about for the Halliburton/Blackwater no bid scandal mess?
How about for shredding the U.S. Constitution?
How about for not getting Bin Laden?
How about for "Mission Accomplished"?
How about for not being welcomed as liberators?
How about for our 8 year international humiliation?

There so much for being thankful for, I think we should make 1/20/09 a day of celebration.

McCain – make up your mind. First you say that offshore drilling will not have an immediate impact, but rather take years to affect prices.

Now you're alleging that opposition to this plan, which will in your words take years to unfold, is why gas is so high?

And even though according to your prior comments, the ACTUAL drilling offshore will take years to bear fruit, we are now to give credit to Bush for saying "Git R Dun"??

You must really be desperate Sen. McCain – and you WILL remain a Senator, make no mistake.

You are grappling for anything you can. Flopping, flip flopping, flip-flip flopping….Maybe you can have a 'senior moment' as you like to call them and forget how to get to the White House because you don't belong there.

IF THE DEMOCRATS (CONGRESS AND OBAMA) DONT GO ALONG WITH MORE OIL EXPLORATION AND DRILLING AND USE OF NATURAL GAS , WIND AND SOLAR POWER AS PROPOSED BY T. BOONE PICKENS BEFORE CONGRESS.. WE WILL VOTE REPUBLICAN FROM JOHN MCCAIN TO THE CONGRESSMEN.
WE HAVE SEEN ENOUGH OF THE DO-NOTHING-CONGRESS OF
SPEAKER NANCY PELOSI.

The democrats don't have an energy plan. They have stopped nuclear power, coal power, natural gas power and oil exploration. What's left?
Wind and Solar!? EVERYONE agrees that this is not sufficient, or if they don't agree, they don't understand physics, semiconductors, meteorology, or that the earth turns and the sun is down for half a day. (hey, just don't use electricity at night).

The Republicans are just as bad! Drill, drill, drill. There are many known reserves that won't be exhausted and are not being used for production. But, what would we even do with more oil if the refineries are at capacity and no new ones have been built in 30 years.

No energy policy from these two….

I'm for Barr '08!!

Many years of bad experience are worth less than no experience at all…

What??

Doesn't it have more to do with the speculation bubble bursting a bit? I tell you what, I'll let bush take some credit when the price is down to about $75 a barrel. How about that?

If he has that kind of power, then why just $10.00? How stipid of McSame to make such a claim.

McCain should know that a weak dollar causes oil prices to go up. Now that the dollar is strengthening more, the price of oil goes down: simple economics. If the Feds do their job and strengthen the dollar, then oil prices would go down and finally stabilize to a reasonable level.

Also, at the same time, Inbev would have not bought Anheuser-Busch because a strong dollar would make it too expensive to buy.

I guess his economic adviser, Phil "Whiner" Gramm, didn't explain it well to McCain.

Hahahahhhahahahaaaaaaa

Hahahahaaaahahaahahhhaaaaaaaaaa

These people are morons. They must be into some really heavy drugs!!!!!

Do they think the American people are THAT stupid???!!!!!

Give me a freakin' break!!!!

GO AWAY YOU MORON!!!!!!!!!!!!!!!!!!!!!

Wouldn't you just love to know what really went on at Cheney's SECRET energy meeting with the oil barrons when they 1st took office—let me see, find a way into the Middle East (Iraq), line the pockets of the big oil companies with record profits, gouge Americans. Way to go Bush and Cheney!

Are we sure McCain isn't related to Bush?

McCain is right. Thank you president bush. There are still people who support you!!

LOL…that's all I have to say…LOL.

Wow.

Demonstrating his economic intellect, huh?

Liberal Democrats have time and time again stopped us from drilling here at home and yet they think they get the right to complain about gas prices?

If one is a loyal Democrat they must either be dishonest or ignorant, the facts on every issue and the lies they buy into and spew make this undeniable.

Yeah, I'm holding back on saying and thinking that they want to destroy America, I don't want to think that about my fellow citizens, although it is becoming almost impossible to counter the message of those who say this is so. Seems every day those who say libs want to destroy America get more and more facts to make their case, I pray to god they are not right.

McCain is as out of touch as people that think drilling off the coasts will solve our problems.
The industry analysts and the oil companies have said the reason for the price decrease is less demand. That has nothing to do with Bush or anybody but Americas wallets talking.
With a 10 year window before drilling will be beneficial, prices would have stayed up until that first drop of oil spilled into the ocean.
Have you seen those penquins in Bazil covered with oil form their off shore drilling?

Are you kidding me????? If Bush is taking credit for the drop in the cost of oil, whatever he did must have been totally accidental!!!!!!!

It's called a price ceiling idiot. Oil couldn't go up forever. Really pandering to the morons of the country the Repug-licans are.

Speculators need a justifiable reason to make speculations about the decrease in availability of a product. Without this their speculations have no grounds and thus will not be believed.

So what is the main cause for the raise in oil prices??

Why the probability of an Isreali/Iranian war. Speculators used that scenario to raise the price of oil through the roof!!!

What brought the price of oil down??

Why the possibility of reaching a diplomatic agreement with Iran.

To paraphrase Adam Smith in the Wealth of Nations, "War is nothing but a burden upon an economy. It consumes natural resources, time, and personnel that could be better applied to more economic ventures. Similarly war or even the speculation of war provides an excuse for over speculation in markets concerning the scarcity of resources; thus increasing the cost of things without increasing the value of them at the same rate."

so when george w became president, gas was $1.72 cents a gallon. seven and a half years in gas is $4.08 a gallon. roughly $29 a barrel, seven years ago, $147 a barrel this week, maybe higher.

So we should thank george w for the prices sliding by $20 to a paltry $127 a barrel.

Of course, This has nothing to do with talk of closing the enron loophole or people driving less because they have to pay for groceries which have skyrocketed under the great leadership of the repugs.

MCCAIN is an blabbering idiot.

Any doubt that John McCain is just plain stupid?

I thought he was trying to distance himself from Bush?? The name McSame is well deserved!!

Obama is to blame for high oil prices, and Bush is to thank for a drop in oil prices?

Somebody get a straight jacket!

We've got a live one! …well sort of….

Grab a diaper while you're at it!

me thinks McCain missed his true calling….stand up comedian

the reason the price decreased was because we are consuming less because of the high price. the oil price has probably found it's ceiling.

'old man yells at cloud' McCain needs to take a nap

i hope he also credits him for the trillion dollar war, the katrina debacle that miss and la are still dealing with.the high gas prices,
the highest debt in history. the weakest dollar. the highest unemployment. rate.
should we go on.

Obama 08

President Bush withdrew the Executive Order that bans offshore drilling. There is still a Legislative outlaw against offshore drilling. So therefore McCain has nothing to crow about!

McCain is right. Oil is sold on replacement costs and the potential for increased supply sources is driving the price down. Now wait for the democrats to limit drilling and the price will go back up.

So why is the price of gas still high?

Thank you Bush now make it drop again like a 100$ and that should cover part of your fail mistake as president.

Ok maybe I am becoming senile like McCain but the last time I checked, I was still paying over $4 for gas! How is the $10 decrease helping? It isn't so I don't and won't give you or Bush credit. The decrease did nothing for us so stick that where the sun doesn't shine!

Sorry, McBush, we're smarter than that.

McCain lied in his regarding the oil prices were Obama fault and now he wants to give Bush credit for the drop!!! I can't believe folks really want this man as President!!! We can clearly see he is a liar just like Bush!!

A one trick Pony….

Give me a break, prices are down because the demand is down. Give the American people credit for not taking those vacations and staying home; for parking their cars and riding a bicycle, bus or walking, and for planning their shopping trips to include the weekly laundry, groceries ect to once a week instead of as they occur. Also give the senate credit for seriously looking into price speculators, that Mr McCain is what brought prices down. Talking the possibility of off shore drilling and drilling in Anwar had nothing to do with nothing other than a political game so the republicans could blame the democratic controlled Senate.

So when the prices rise, it's due to everyone else but not Bush?

And when the prices fall, it's because of Bush's involvement?

Good to know, I love that kind of accountability.

I think that it is very interesting that NO BODY ever mentions the fact that the war in Iraq and Afghanistan are sucking up a lot of oil.

Wow you people really are missing the point. McCain stated that its people like Obama, not him directly. If you people are too dumb to learn how to look at something and not understand it you really should not be allowed to vote. Oh and to the genius who said that Bush is profiting from high oil maybe you should know that when a person becomes president they must give up all other income and business ownership. Also, they cannot ever get the earnings and income that they gave up when taking the oath of office. You people really should educate yourselves ann not just listen to what the news tells you. Can't wait for Obama to get in so I will have to learn a different language to keep my job and when I call a place by the end of his term i will have to push 9 for english because 1 through 8 will be some other BS languages.

That is some FUNNY stuff…

Drilling for oil that may produce in 7 to 10 years lowered the price in a market that never looks ahead 3 months; let alone 10 years.
How about we are driving less?
How about we are talking to Iran instead of bombing?
How about we are threatening to rein in the spectulators?

John McCain really is ignorant about all things economic. First off, traders are smart enough to know that Congress needs to lift the moratorium, not the President. Bush's actions are empty as usual. The reason oil is down is on comments by Bernanke who said that the slowing economic conditions worldwide would reduce demand for oil for the forseeable future. And there's also legislation to reduce speculation in the oil market. McCain's comments are quite funny actually.

McCain's ole chum, ole pale Mr. Bush. God bless them both.

If Bush is responsible for making the prices go down, why didn't he do it sooner. McCain I don't have hip waders high enough to wear for the BS you are spewing lately.

Republicans,

Want to know the saddest realization of all?

I firmly believe that if there were no term limit, Bush would beat McCain hands down, so he could run his own third term.

Think about it, I really do think the repugs would dump this moron in a heartbeat for Bush Jr. And that is SCARY AS HELL!!

Why is it all Obama supporters on this site? Oh, that's right, CNN is in the tank for him.

McClone's alzheimers must be acting up again. Sure, gas went down by about 20 cents, but it's TRIPLED while Bush has been in office. Whatever happened to 'Bandar Bush,' the Saudi bobo that used to be the Oil lapdog at the White House? McClone needs to pull his head out of his Depends undergarments and smell the real world!

Apparently you get to make up whatever stories you want when you're running for president.

I've said all along that pixies were responsible for the whole thing. Do I get a job in the senate now?

Mr Magoo is at it again. First he blames Obama for high gas prices, then he praises Bush for the oil price drop. Old man yells at clouds!!! This is beyond funny, it's down right scary.

They say the legs are the first to go, but in McCain's case I think it's the marbles.

He previously stated that Bush was not to blame for the increases in oil prices. Perhaps, if we could see the minutes from the Secret Energy Task Force meeting, we could get some clarification on that point.

And, was it not Mr. Bush who wanted to continue shipments to the Strategic Oil Reserve? If Congress has not overruled him, would that not have led to even less available supply and raised prices even more?

While there are severe mistakes made during seven years of Bush policy, it is true that his lifting of the executive ban on off-shore drilling was a major factor to bring the price of oil down last week. His easing rhetoric towards Iran certainly helped, too. At least on the speculative side of the market.

It is simply ridiculous to see so many Obama supporters with their fingers lodged deep within their ears and wailing loudly so that they won't hear anything contrary to their messianic delusions about their propped-up democratic stooge of a candidate.

I find it outrageous when the Republic party tries to say that drilling more oil will bring gas prices down. We here in Canada have off-shore oil drilling, polluting Alberta tar sands and we are one of the main producers of oil in the world. Our gas pump prices are higher than in the US. We are paying $1.50 a liter. Do the math! If anything brought prices down is that B. Obama is not backing down on withdrawal from Iraq. The Arabs wanted S. Hussien gone so they would not have competition to bring prices down. Once the Iraquis have control of their oil again we will see prices plummet. Saddam Hussein was funneling cheap gas out to the world. George Bush should not have taken out the competition for Arabia's dictators.

McCain is losing his electability and Obama is gaining it. If all you have are lies to pitch to the American people, you are really in trouble. Stick to issues and your solutions and ideas for them. I feel a little insulted by McCain's statement on the price of crude dropping. Does he think we voters are that stupid?

to quote cafferty

the level of intellect at the top is staggering

Way to separate yourself from Dumbya, pal!

Everyone knows that Bush only gets credit when things go WRONG.

Is McCain drinking some strange Kool-Aid? I thought he knew enough to DISTANCE himself from Bush. At the very least, give him credit for something he actually did.

Prices went down because consumption is down. It's the "free market" McCain, you might want to look into it.

So let me get this straight his failed policies in Iraq caused oil prices ot double in less than a year and now, because he says we can drill , (which Mr. Obama has already said he will again prevent when (if) he is elected) and oil prices fell $10 we should all jump up and praise him for his fine judgement.. nope McCain it is kinda like your surge, we got into the war for the wrong reasons, we executed it porrly and now that we are driving our enlisted military to the edge we ahve managed to cut violence to levels we have not seen since the third year of this failed war we should all be happy and say how wonderful the surge is working…. morons one and all who believe either

@ enlightened voter who said "get back on your bicycles and let us save our oil based economy."

Dump your Hummer or SUV, riding a bike is good for you and saves fuel. I ride it to work everyday. I also use the train. I now save over $120/month not to mention no more commuter gridlock and stress
What are you doing to help the country conserve? What are you doing to help get us off of oil?

You are missing the change happening underneath you. The goal is not to save the 'oil based' economy, its to eradictae it over time.

You need to think outside 'oil' and work for a future and not think of just yourself. The Oil economy can and will be replaced by a Green energy economy. Get on the train before you get left behind holding an oil can.

If America's top grade Oilman T. Boone Pickens says we have to get out of oil and that we CANT DRILL OUR WAY out of the problem, then the oil based economy's days are numbered. Count on it.

But wait…if the oil price went down why are the prices at the pump not going down? Why is it when the price goes up you can guarantee that the next day the price will show an increase, yet if this is correct they've since gone down and the prices remain the same???? Why is that?

It is just the old man returning the favor from Bush lying about John McCain't Supporting the new GI Bill. Which Ole Man River Opposed!!!

John McCain't – New Leader of the DeceptaCONS (Repubican'ts)

When you have nothing to offer the country – Do what the DeceptaCONS do best…blame the media and lie!!!

Vote Obama 08

McCain…OLD MAN YELLING AT CLOUDS!

If Bush is getting credit for lowering crude oil prices by just talking about ending offshore drilling ban, then Obama should get credit for lowering crude oil prices by visiting the Middle East and calming the fears of an US occupied Iraq and Iran.

That's funny. When gas and oil prices started to climb last year Bush said he understood the pain it was causing Americans but that there was nothing he or Congress could do about it because this is a free market world. So now he wants credit for them going down because he is pushing for offshore drilling? So to recap…

Blame = Not my fault
Credit= My plan is working

This one is funny. The man that didn't know the prices of gas a few months ago is now responsible for the drop in the price of oil? Yeah that's sound logic…

Bush may not have been responsible for the decline in oil prices but he certainly wasn't responsible for the increase either. And for everyone who says there's no point in new drilling because it will take 7 to 10 years for the oil to hit the market, I hope that 7 to 10 years from now you're not scratching your heads wondering why gas is $8 or $9 a gallon.

Simply pathetical!!!!

Yeah, I'm sure all the speculators when 'Uh oh, the U.S. is going to add 2 million barrels a day in 10 years, we'd better sell NOW.'

Simply put, crude stockpiles have been dropping less than expected, while distillates and petroleum supplies have increased, mostly due to the fact that Americans woke up and usage has gone down.

It's funny, but I think the Republicans are going to get more desperate over the next couple months as they learn that every scare tactic that used to work has no effect anymore.

Bush and his counterparts (McCain) think that we are so stupid. This entire oil rise and fall etc is a conspiracy. They make me sick!

Simply ridiculous. So the price of August 2008 oil contracts dropped because Bush lifted a ban that could possibly yield some unknown quantity of oil in 2015? Bush's act had no impact on supply and demand. From the perspective of an energy consultant, McCain's take makes no sense.

The drop in the energy complex is much more likely the result of an over-bought market taking profit in the wake of lower than expected domestic demand as well as profit taking while the govermment mulls speculatory regulations.

Bush has nothing to do with the drop in oil prices. McCain need to go to sleep until after november. He is as insane as Bush. Guess he would have to say something positive about Bush if he want him to continue raising money for him.

What does that mean "serious about moving forward" The $20 drop is nothing. Let's start talking about serious turnaround when the reduction equals the rate of increase.

I credit consumers and businesses, such as airlines, and Congress with whatever drop in price we experience.

This guy and his advisors are clue-less. Price of oil dropped after we figured out the Hurricane was not going to damage oil rigs, it went up a bit because there was a Hurricane in the area. Price of oil will never go up or down when a person talks about something that is not impacting it at that particular point in time. If you want to use his reasoning, it would make sense the price of oil will go down as people talk about going green, right? How come it hasnt yet General McCain? Reason is the going green has not turned into something big enough to impact the oil market, due to it being just talk. Price of oil went down mostly because people are driving slow. Write that down General!!

What in the world Sen McCain been smoking? Blaming Barack Obama for high prices at the pump. Bush and congress need to close to loop-hole on speculator. The price of a barrel of oil went down $10," but not at the gas station still $4.45at the pump GO OBAMA

If you had half a brain you would realize that the world thinks Obama could very well be the next president—
His failure to understand that the threat of offshore drilling has brought the price of a barrell down and because he could very well be the next President and his total opposition to drilling along with Nancy Pelosi not even bringing it to a vote tells those nations that we will be reliant on their oil for many years to come—
THe plan to bring those prices has to come from Drilling for Oil and working hard to get those alternative energy sources going before 2030 like Mr. Obama said and more in line with ( believe it or not , Al Gore )who said 2018 but that everyone agrees is aggressive—
So Dems what is your plan for the next 15 Years or so to slow our dependence ( Maybe $5.00or $6.00 a gallon or more ) a DEM Presidency will show how foolish and naive you are–
I doubt this will get publish because it makes to much sense and CNN is a Barack Backer—Will See

The prices rose because of expected heavy driving for July. It fell because the July driving season is over. It will rise again near Labor Day and fall again in October.

The housing mess is an oval office closed door deal with subprime
lenders to expedite Bush's campaign promise "that every income level
can buy a home in america." Thus opening the door to a housing bubble without the means to pay the cost………….."

McCain is lost.

Yes, John. Keep it up, by all means. The more buddy-buddy you are with Bush, the less likely you are to win. So get as close as possible!

Seriously though… if you never thought the "McSame" nickname fit, then think about John singing praises here.

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

Wow…McComa is losing his mind..

and this is who you guys see as a better candidate than Obama? Experience or Not…Common SENSE supercedes experience ANYDAY…

McComa…go Home

Obama '08

The rational part of me would like to believe that the market is based on solid fundamentals, and any movement of such would be based on those fundamentals… but the fact remains that much of what accounts for major market movement today is based (at least in part) to the latest "up-to-the-minute" emotions and news-hysteria coming out of our "go-go-go" non-stop 24/7 cable and internet news media.

Here's but one example… the price of oil slid a bit this week after investors learned "Hurricane" Dolly's trajectory would NOT impact oil operations in the Gulf. There hadn't actually BEEN a shortage or interruption, but there was the fear of a POTENTIAL interruption. Again, emotion, emotion, emotion.

If the federal government actually got serious about energy in this country and made a public proclamation that any and all moratoriums to drilling and exploration were now null and void, the bottom would fall out of the oil futures market and the price of a barrel of crude would fall to half of what it is now. The government has created this artificial shortage, they could solve it by getting the hell out of the way.

Does Mr. McCain actually believe what he just said…we can thank George Bush for the drop in oil prices….where the heck has he been….

To clean up the air for the athletes and visitors in the Olympics, China has taken millions off cars off their roads, thereby decreasing demand my millions of barrels. Look for the price of oil to go back up after the Olympics..Of course no one expects Mr. McCain to understand world economics so the gaffe is forgiven. .

I think Obama should make more of these trips, because it puts McLalaland in a very stringent situation.

Wow all his talks since Obama travelled has been horrible. Its like when daddy travels, the kids turn the house upside down organizing house parties.

McLala, daddy is coming home soon, so don't you worry, but get ready for some whooping or should i say flogging.

Ignorance is bliss

More proof that he know NOTHING about ANYTHING…And who does he blame for when the price was going through the roof????? Obama. How the hell this man even manage to be within 10 points in the most recent CNN poles of poles is a mystery to me and many other people with a useful brain. He has voted with Bush on just about every thing that's wrong with the USA. He and his wife who spends $800,000 last month on her credit card are so far out of reach and touch with his so call "My Friends".

And if only he would only tell the truth about the so call surge that would not have been necessary had Bush with his pat on the back support not Invaded Iraq. The surge is working because everyone is on the US payroll banked by China. God forbid he gets into the White House anytime soon or ever.

Couldn't have anything to do with the fact that gas prices on july 4th were higher than they've ever been any previous july 4th, and thus less people then EVER were driving as part of their july 4th plans, eh?

if these imbeciles (read: republicans) get elected I'm moving to canada….

McCain, you boot-licking sycophantic toadie! But, you know, McCain is actually right. The American economy is declining, people have less money to spend, the demand for products using oil is declining, reducing demand for oil, and the Oil Speculators have responded by selling off some of their interests causing the market price of oil to fail.

It's just a blip though, increase in oil demand by China and declining value of the US dollar as we go deeper into debt becaues of George Bush's Iraq war will push oil prices back up.

Enlightened voter, your title is an oxymoron based on your post content.

Let me get this talk straight – we are supposed to be thankful for OIL priced at $130 per barrel…..when it was $40 a barrel before BUSH got into office……Not this guy….independents such as me….are not thankful to someone who has us at $130 per barrel.

I'm a republican voting for Obama. Period!

I will give BUSH the same credit that I will PUMA members at this point!!!!! Nada, Zilche, zero, less of a hero, nothing,

Both have the brain knoledge of their shoe sizes.

Thanks, McLAme!! The more you tie yourself to Bush the more we like it. Keep it going!!

I'm starting to feel 'sorry' for him. To whom does that make sense? I'd really like to know what idiots feed him this crap??? I think most Americans are more engaged in the politicial process (just a MObama said) and we've become a more informed, knowledgable nation. In my case, I KNOW my family won't survive another 4 yrs of similiar issues from the past 7+. As Americans, we just have to hope for something different. Something better!

Obama 08 & 12 (too bad it's not possible for 16 & 20)

Great. Now can he say something to make gasoline prices go down?

I'm prepared to give Bush credit for talking to Iran. That is way more likely to have had an effect than his pronouncements on oil drilling.

Imagine if he announced that an attack on Iran was "off the table."

Notice how Enlightened Voter does not want to save our economy. He/she wants to save our "oil based economy". So you see the real motives on the right: not to move our economy forward, not to ween our economy from foreign influence, but to just keep the status quo. These mindless neo-puppies don't even realize they are being to led to vote against their own self-interest. Yeah I'm whining alright, whining about all the morons I have to share this country with.

Honestly folks, whoever wants McOld as President doesn't love the country strong enough…please, act and vote responsibly.

In case you left-wing bikers do not know, the price of oil is sky-high because of your beloved Bill Clinton, Pelosi, Gore, Kerry and the rest of the democratic congress. Please stop blaming Bush for things that are your fault for voting these airheads in. You will be begging Bush to return if your Messiah wins and your taxes are increased. You will not be able to buy gas because you can't afford a car due to your paltry take-home paycheck. Ask any Canadian or citizen of Europe how the taxes work when you are socialized.

mc c, it will only lower the price of gas about $0.02/gal, however, what do you have to say about the 9 trillion dollars we owe to some foreign countries?…….not your bag?,,,,I thought so

$30 drop in one week. Yep, it has to be Dolly..

Welcome to LaLa Land!

The credit is two fold:

1) The 'psycho(logical)' impact of lifting a veto that in fact does nothing, because we do not have refineries and all it freed up is less land then is already available to drill on but not being drilled on for all these years (thanks to people like Bush and McCain) and….

2) Democrats bringing to the table the real solution: Controlling the speculators.

McCain, you don't get it, nor anything else. Your party does nothing, and has not for over 8 years now. You are a joke in the twilight of your life, give it up.

Obama '08

Such utter nonsense, and simply impossible, if you understand the basic facts of the commodities market: the thing being bought and sold is the right to take delivery of X amount of oil Y months from now.

The President announcing a lifting of a drilling ban that (a) isn't even effective unless and until Congress does the same AND (MORE IMPORTANTLY) (b) won't result in any increased supply for (at most optimistic) 7 or more years, and probably much longer (if at all), simply CANNOT affect the price of short-term oil futures being traded on the commodities market.

Negotiating with Iran, thereby calming middle east tensions which was what Barack Obama had been suggesting for a long time probably had more to do with it. Speculators at least can see that as a more tangible effort, in that the bush administration can actually follow through with Iran negotiations but it does not have the power to lift the oil drilling ban as congress has to do the same (and likely won't because Congress is controlled by democrats.

Just a thought.

Thank Bush?! The reason the price of a barrel of oil has gone down is because consumption worldwide is down, as well as here in the US.

Demand goes down, price falls. Simple economics– apparantly McCain can't wrap his head around it.

people people people all we can really do is laugh at this. This is incredible

McCain needs to wire his mouth shut because the stupid oil keeps gushing out.

If we're to give credit to Bush for the oil price drop, then why hasn't he done this Months ago??? and why aren't the prices even lower???

The only credit Bush can get is when he leave office. I will give him credit for that if he goes peacefully.

I would give George Bush and his Oil Mafia for jacking up the gas prices from $2 to over $4.

McCain is right, oil prices will go down b/c we might have the possibility of getting oil from ANWR in 10 years..

\end sarcasm

Im confuse the gas price have to reach a record high price for bush to bring it down and we should be thankfull for paying the high price the whole time?simply ridiculous

Whew!……about time McCain begin talking ECONOMY. Stop making the case on Iraq. It's over. Economy all the way. We got your back on his return with his facts.

No John we didn't miss it , gas is still over $4 a gallon, a $10 drop means nothing. I doubt anyone in Jordan is running scared that we are going to drill off shore for oil we cannot fully refine, nor will the American public see any benefits of drilling for 10 years. All talk no action. Unless we adopt the Boone plan OPEC is the only game in town and they know it. With winter coming in a few months that cheap oil from Venezuela will look real good. Also hurricane season has just begun will those oil platform be safe from mother nature?

All this talk of offshore drilling having any effect on prices within less than 7-10 years is remarkably ignorant. Even if the highest estimates of the the total oil reserve are correct, it would mean we'd have three years free of imported oil and then it's gone for another few million years. That's at today's consumption levels. Oil is a world commodity and, as long as we drive China's and India's economies with outsourcing, our production won't have a big impact. How about we find alternative energies to offset petrolium consumption rather than just drive up demand again? Oh right, the oil lobby and their billions have already bought the government. When are they going to have a fire sale for the rest of us?

Bush got us up there in the first place.

Now, Mcain proposed to continue the same, or in the path of Bush.

Every time they say war or bombs Iran the price go up.

Thing will get worse if Mcain if ever elected.

Obama 08 & 12.

Everyone was saying it was becasue of talks with Iran….so which one is it?

PSS How many Obama-payrollees can one comment-site post?

Who are you kidding, McBush?

but they havent started yet. so the speculators are malipulating the market. impeach the oil man

Enlightened voter, please feel free to drill in your own back yard…. And congress tried to get the oil companies to drill on the land they are already leasing..
Why not go there first, then worry about destroying our beaches later ??

He is kidding right? Do you think McLame sine the demand has gone down since people cannot afford the prices could have anything to do with it? Another senior moment from the great Republican Propaganda machine!

If that was all it took, then why wasn't it done sooner? This is propoganda at its worst. Just like I don't blame one person or entity for the problem, I don't give credit to one person.

Obama '08

IS THIS A JOKE, HOW ABOUT GIVE CREDIT TO THE SENATE FOR IVESTIGATING IT AND HAVING THEM RUN FOR THE HILLS BEFORE THERE ALL HELD ACCOUNTABLE FOR PRICE FIXING AND GUOGING!!

Or give credit where it's due – lowered demand (use) caused by the high prices. Add to that the fact that China just started odd-even driving days and decreased their subsidy of gas prices and you've got a recipe for reduced prices.

Also, the lack of new issues with Iran. Oil had already started a sharp decline right before Iran started blasting off missiles, which caused it to resurge up to the 7/11 high of $147.

Lastly, no sensible investor really thinks that Bush's removal of the moratorium means that we're going to start drilling, so there would be no reaction. Investors have read the writing on the wall that it's not happening with a Democratic Congress and a probable Obama Presidency.

McCain's got a real problem with cause and effect when it comes to energy & economic policy.

Before they start drilling off our shores for more oil we won't see for twenty years and shouldn't need by then, they should force the oil companies to drill on all the untapped land they have already.

Two weeks ago they had a major breakthrough with solar paneling which doubles their efficiency without raising costs by coating the panels in chemically treated dyes that allow the light to focus more precisely on a point.

Biodiesel is criticized for requiring fossil fuel energy to create. However, in the northwest they are discovering that biodiesel can be produced without a drop of fuel if they use natural biofuel taken from algae grown in greenhouses. One of these greenhouses is able to output a third of a gas station's daily capacity each day. No need to worry about running out, either. The algae population is regenerative. The creation of one greenhouse is, like solar paneling, a one-off investment that, while expensive, repays itself over time.

John McCain is out there every day, saying the answer is drilling, drilling, drilling and nuclear. He wants us to move from heroin to cocaine. Pretty soon it's not going to be oil corporations looking for drilling land, it's going to be nuclear corporations looking for dumping land.

Offshore drilling is an incredible blow the environment. One with no net benefit, except to those for whom the environment is, irrationally, an enemy.

Really? So when the oil price changes again, up or down, what will be the cause then? Maybe we could thank the pedestrian-predator Novak for his efforts to reduce oil prices. Or maybe if the price goes up, we could blame all the democratic fans at the next Mets game?

Jesus, worse than the lunacy to say these things, are those that believe them!

So every American should write a letter to Bush and tell him to kiss their arses right, this is not going to help you McShamealot…try again
BARACK THE VOTE !!!

Great, so now they're back to only 110% higher than the end of last year. ALTERNATIVE ENERGY. You should all say it a few times.

And what exactly did Obama do to drive up oil prices? Every day I loose more respect for that guy. He's so intent on not wasting his shot at the presidency he's selling out every chance he gets.

It's no surprise.They are of the same breed.

And now everyone who has not followed oil prices will be saying what saviors McSame and Dumbya are. The truth that the American people are just not using as much has absolutely nothing to do with it. The fact that amounts of unknown oil in unknown locations that will reach the consumer in an unknown amount of time have help to start correcting the market.
But people who do not read for themselves will believe this. Completley disregard the fact that there is more oil already available in areas that are open to drilling. That oil will have no affect.
Why do we let ourselves believe this.

This is this elections homophobia. Since there is no Gay Marriage to cry about, lets do the oil thing.

Which is a real issue that will affect how society moves, but being over used and abused at our expense.

NOW THAT IS THE FUNNIEST & MOST PATHETIC THING

TO EVER COME OUT OF THE OLD FOOLS MOUTH. FORE

THOSE WHO WANATTO KNOW, THE OIL PRICES ARE

REFLECTING THE FACT THAT BUSH WILL BE GONE AND

MCBUSH HASN'T A CHANCE IN HELL OF REPLACING HIM.

Oh, I'm glad to hear that it was his push for off shore drilling, and not the fact that the hurricane is not going to be causing as much damage to the oil operations in the gulf as was initially believed.

Oh that mccain he sure gets funnier and funnier. he sure does make me laugh!!!

ummmm…..isn't it his fault we have to pay too much anyway? I mean i thought invading oil-rich countries would make us pay less for oil and gas……….looks like your plan backfired, and you let us down again Dubbya.

what a dimwit. GET OFF MY LAWN!!

soon as he announced "mission accomplished" the war was over too.

So why didn't Bush do this before all the suffering of the American people??
Why didn't McCain just ask Bushie to wield his great powers, BEFORE he brought up his stupid gas tax holiday gimmick, that would cost us Billions in road repairs! And his gas tax holiday…would not start before JANUARY, IF he was elected as President.

He would be the third coming of BUSH/CHENEY/ROVE/RUMSFIELD!!
God help us all………………………………………….

Oh boy, like we didn't see that one coming. What a load!

It completely baffles me how anybody in their right mind can even consider voting Republican this time around.

This country needs an enema!

What about giving credit to the American people for conserving and staying home more. Demand is what got the prices down not the idea of more oil in the market.

good God…will some one please tell Mccain to shut up!!! every time he opens his mouth something stupid comes out. people…the gov. has leased 68 million acres of land that the oil Comp. have refused to drill. the protected lands are protected for a reason. perhaps John McCain wants off shore drilling to appease the 59 lobbyist who are working on his campaign, McCain is against keeping the oil found in the States IN the States, he would rather put American Oil on the market, selling it to China and India…tell me how will that help YOU at the pump…this man will do anything to win…lie cheat and steel….i guess he Is just like his twin Bush. oh ps McCain, why if you are an "expert" dont you know when the Sunni awakening took place? you keep whining about the surge and you dont even know when that took place….i am waiting for him to show some honor and bow out of the race.

Consumption didn't go down?
Basic Economics 101, dude. Supply and demand.

McCain Economics 101. Supply and Demand.
Price goes up = Blame Obama.
Price goes down = Credit Bush.
Demand is not a factor, just keep the supply coming.

Amazing.

I guess the "Oilmen got drunk" as Bush would say.

I have not given him any credit for 7+ years, (starting with him reading My Pet Goat during the attack on the twin towers) why start now??

Give credit for Bush. I will follow Bush….. McSame

My goodness, praise Bushie!

I'm still thanking the guy who got us into this mess. Wait, who was that again? Oh yeah! Thanks Mr. Bush!!

McCain is truly an idiot.

Oh thank you great God of the Oil for looking out your window and seeing that the peons were suffering. Thank you for your to your oil phone and begging your friends to have pity on us.

Bush is a moron, and so is McSame. I can't wait until November so I can throw the bums out.

O/08

Yeah, what is he nuts? If we give Bush credit for dropping the price, then should we not credit him for it raising in the first place?

What kind of logic is this?

WOW! What will the Old FOOL say next?

i was gonna say "how can mccain say that with a straight face", but then i saw the picture—of course he cant. he's a joke, the pres is a joke, but all the damage they have done is NO JOKE! enough with these crazy neoCONs who live in some fantasy world that is NOTHING like the country i am living in right now! these guys are all truly nuts!

Man, this guy keeps forgetting to take his meds. I can't believe he could say this with a straight face. And there are people who actually want this guy to be president?!?!??!?!

yes and I hope that the oil speculators lose a bundle or two.

Now for the good news. McCain is so honest giving credit to Bush. I'm sure the Messiah will claim credit. Seems that he claims credit for a lot of things that just aren't true. How can anyone trust Bomba?

He is not only green like July field corn, but he also has limited judgment.

He is the poster boy for inexperience. Why can't obama tell the truth? Is it genetic?

Le chat pas fume

Ok McCain is trying to have it both ways. He wants to distance himself from Bush when it hurts, but be his best pal when it doesn't. When gas prices are high its Obama's fault, but when they get low again it's Bush's.

This is the same Bush who says our economy is "drunk".

The truth is, the reason for the drop in the price of oil is consumers are cutting back. Its simple economics. When demand is up prices are higher. When demand cools prices lower.

Finally Bush has done something honorable for the first time in nearly 8 years.

McCain is so going to lose. He can not win this election–and that's a fact. He will lose, lose, lose.

Obama 08

Yeah, let's give Bush credit for having it at $128 a barrel… when it should be about $80 a barrel. Don't get it twisted America… when gas gets back down to $3.50 a gallon, that doesn't mean it's cheap again. Keep your SUVs retired, keep on riding your bike, continue to use public transportation, and enjoy more staycations. Stay focused on the goal, okay? ALTERNATIVE FUELS!!!

This guy is an utter and complete FRAUD!

why wouldnt he? afterall arent they the same MCBush?

Hey Grandpa McCain – CNN Business Section just reported today that the price of crude is down because inventories are high and demand is low. Dubya's pronouncements mean squat on the matter. Fact check Grandpa – FACT CHECK.
What next, the "surge" is making the price of crude go down too?

It is now obvious that McCain will do and say anything to get attention….Thank God for the opportunity to see McCain in pressure situations where his incompetence is revealed, and where his inability to understand a broad sprecturm of facts is shown….It is scary to think that a person like McCain, who not only cannot remember what he is told and does not understand what he remembers, could be president of the most powerful nation in the world….

Whata pile of crap.
Apparently McShame has never heard of supply and demand. Demand goes down – price goes down. All Bush did was to crawl on his belly, sniveling, to his Saudi Arabian masters, begging and whining for another cup of oil. Does anybody remember the Saudis – the ones who bankrolled Bin Laden – whom Bush provided cover for by starting a phony war in Iraq – and who provided almost all the 9 / 11 hijackers ?
Yeah, those Saudis.

It's supply and demand…simple as that.

I'm sure the announcement of off shore drilling did help but we need to be responsible and cut our dependancy on oil. Most importantly, people have stopped driving so much therefore the demand is not as high as it was. Therefore, if the prices do continue to drop, we need to continue driving less so they stay low until it even out.

Period end of story.

The drop of the price of oil has nothing to do with Bush's decision. If you listen to the markets you would see that what drove the prices lower are:

1. More than expected drop in use of oil by consumers and thus larger amount of stockpiles of oil in US
2. The drilling platforms in the Gulf of Mexico will not be affected by the hurricane Dolly thus not disrupting supply

Again, Bush's decision had minimal at best influence on the price of oil. McCain is talking boloni!

Next up: McCain says give Bush credit for babies giggling and puppies wagging thier tails!

John McCain's complaceny will doom his Presidential run.

This is .. VERY funny… Grampy McCain needs to take his meds again… what price drop is he talking about

MCBUSH IS RIGHT FORE ONCE.

MARKETS ARE REACTING TO THE FACT THAT

BUSH & MCBUSH WILL SOON BE GONE.

AND GONE WILL BE CHANEY FRAUDULENT OIL POLICIES.

Really, so when prices go back up we can count on Bush to bring them back down! Please, I thought they went down becuase of increased supply. Also Bush started talking to Iran just like Obama wanted to and the threat of Iran shutting off its supply was temporarly removed from market.

Futher, if elected McWar will bomb Iran and lets see how much we will be paying.

He's proven himself to be very, very right.

As he has correctly pointed out, he really doesn't know much about the economy. This is why he continues to keep Phil Gramm close to help with economic planning – er um, except Gramm already helped create the Enron loophole, helped get us high oil prices and helped set up the mortgage crisis. Ah, what the heck..

Stay the course!

McCain 08

20 dollar drop a barrel = 1 penny at the pumps.

Thanks Bush, and McBush, but no thanks.

Isn't this quite plainly an admission by John McCain that speculation, and not supply/demand, is playing a heavy hand in the increase of oil prices? I mean, if he's convinced that oil prices have dropped because George Bush went out and gave a speech about the possibility of expanded drilling… Perhaps we don't have to *actually* drill, but rather just talk about it ad nauseam!!

You want to give him credit for the price that folks are paying at the pump today, Bush and McCains other republican friends made this mess and prices are still much, much higher then they were when Bush took office. Bush is a failure, and McCain will dig the country into an even larger hole.

PS Billy…you can blame the enviro-whacko's for the $4.00 gas, i.e. the DEMS.

Mccain is an idiot the price of gas was 1.60/gal in the Clinton admistration why he is giving Bush creadit for still the gas price is at 4.0/gal, all he is saying now he supports offshore oil drilling and he need credit too. what a loser what ever happen to his holiday gas gimmik no body bought it now he does not talk about it anymore.

Offshore drilling would be an environmental nightmare. The Americans who support it don't realize that it would take seven years to hit oil and oil prices wouldn't be affected until 2030. Grandpa knows this but is lying to get votes.

Glad someone gives Bush credit for something. And McCain's correct, of course.

Giving Bush credit for lower gas prices is like giving McCain credit for the "success" in Iraq: B.S.!

More than ever are Bush and McCain joined by the hips. We need a change in this country and McSame isn't the one to do it since he offers 4 more years of Bush!

SO I guess I should be really mad at Bush for not exercising this incredible power he has over gas prices sooner and making me pay outrageous fees for the last four years?

Really, so when prices go back up we can count on Bush to bring them back down! Please, I thought they went down becuase of increased supply. Also Bush started talking to Iran just like Obama wanted to and the threat of Iran shutting off its supply was temporarly removed from market.

Futher, if elected McWar will bomb Iran and lets see how much we will be paying.

Is this guy serious? The Straight Talk Express is lost somewhere in the wilderness.

why did the president do this sooner instead of letting the gas go up so high.Why does it sound like JM will say anything to get elected? what happened to the straight talk express?

Wow, can these Republicans spew any more CRAP? The price of oil is going down because we have a glut of oil as a result of people forcibly driving less to conserve. These guys must think the average American is a TOTAL idiot!

I don't care who you credit, but get the Congress on board and let them lift their ban ASAP. All you environmental whiners get back on your bicycles and let us save our oil based economy. Can't wait to see all the Bush/McCain crazy train haters spewing their bile on this one!

It's his job. Isn't that what the leader of our country is supposed to do?

I wonder if McBush will give the same credit if the price soars again!!
More proof that this man doesn't understand economics at all!!

O LORD, LOOK WHAT BUSH HAS DONE FOR US ?

AND LOOK AT WHAT MCBUSH WANTS TO DO FOR US ?

MORE OF WHAT BUSH DID. THEN WE CAN CALL OURSELVES

AMERISTAN, TO CORRECTLY REFLECT OUR ECONOMY, AND

WORLD STANDING. OIL PRICES ARE COMING DOWN BECAUSE

CHANGE IS COMING. NO MORE ADDING 30% SPECULATOR PROFIT.

Now that's funny.

Baloney. The price of oil dropped because 1. people have FINAlLLY started driving less and more slowly, which is decreasing demand for fuel, and 2. because the speculators overplayed their hand and forced oil too high.

All Bush has ever done is make this country more dependent on its oil addiction. McCain and the Repubs will do more of the same.

I think McCain has been sniffing too many gasoline fumes. He's got to be kidding.

Wow, this guy really doesn't understand economics. His advisers are either idiots or believe that the American people are idiots. Bush's pronouncement did nothing to increase the area that the oil companies are allowed to drill in because congress also has a ban thats not lifted. You may remember that last week's message was that congress is standing in the way of a reduction of prices. Furthermore, even if congress lifted the ban, buyers of oil know that the increased oil supply will not begin until at least 5 to 10 years.

Incredible…simply incredible! Now it's clear, his name truly is McClueless.

I give him credit for tripling its price since he took office.

Thanks!! I really needed that!

Thank God so far he has not called OBAMA responsible for Hurricane Dolly.
Old man is nuts, calling OBAMA responsible for Oil price increase.

"John McCain — whose campaign launched an ad this week blaming Barack Obama for high prices at the pump — said Wednesday President Bush's new push for offshore oil drilling deserves the credit for the recent drop in crude oil prices."

the scary thing is mccain is so completely mentally incompetent, he actually believes this is true. and that is INCREDIBLY frightening; but what's even MORE frightening are the people who would vote for him. mccain cant help it cuz he's old, but there's no excuse for his supporters continuing and worsening the downward spiral of our country—INSANITY is all it can be!

with mcCON we'd be going from total ignorance to dementia! and i dont want someone who's as mentally unstable as mcCON making decisions that affect me and my family!

Unbelievable. Imagine a burglar breaking into your house and not quite getting everything of value in the house. That statement would be like thanking the burglar for being gracious and leaving you something. How can you give credit to someone when they haven't done anything that has earned it? Talk about bad judgment. Bush's move was sole symbolic and would do nothing to ease the price at the pump…well maybe in 10 years or so. I don't know about you, but I need relief now…and I don't need empty gestures. Say no to 4 more Bush years…

give him credit for a couple of send per gallon drop but don't blame him for it rising about $3 per gallon since he took office?

Are you kidding me. 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.

I credit Bu$h with high oil prices.

Remember 1.75/gallon before he took office.

Tired of high gas prices?

BLAME THE REPUBLICANS!

Just get in bed with him already, McCain! Sheesh – what happened to McCain? I went to see him speak a few years ago, when he still made sense. Now I wouldn't walk across the street to see him. Perhaps it is age, but whatever it is, he can't be president!!

What ever happened to straight talk?

McCain is outdoing them all with distortions and outright lies.

Maybe it's just more of his confusion since he doesn't know his recent history on Iraq, what borders Pakistan, where Al Queda is based and on and on.

Old man yells at cloud no longer fits. He may not know which way is up.

ARE YOU KIDDING ME????????

Blame Obama for the high price and credit bush for the slight drop? Is he on drugs? Are they trying to lose?

Okay…McCain is losing his bearings! Obama cause the price of gas to go up and Bush is responsible for the price of gas to go down. I think he got this backwards like most things.

Wow. Off shore drilling. There go the beaches, we will see more oil spills. Since when can the President do this without Congress approval? And to say that Bush is the reason for the price drop? Give me a break!

Bush had nothing to do with the price dropping…give me a break..:-( i also dont think its Bush's fault oil had been at an all time high. Obama 2008!

Just keep singing praises for Bush…

This is crazy. Bush and McCain first say, "America has an addiction to foreign oil." Ok. Well if it is an addiction, and you want to get off, isn't the point to not use it or use something else in its place? Smokers use nicotine gum to end their cigarette addiction. Drug rehab doesn't tell a coke addict, "Hey, you have a serious drug problem. Let's go find you another place to buy some more," and expect to get off. We don't need to be drilling for anything. We need to be getting serious about changing our energy policy. Also, I have yet to see that $10 translate to any reduction at the pump. So what's the deal? The oil companies and the Bush/Cheney croonies are just pocketing it as usual. I don't give Mr. Bush credit for anything that benefits the public when it comes to oil. Afterall, he is an oil man who benefits from this nonsense.

Yeah oil has dropped in price because maybe Americans will drill for oil in 5 to 10 years and will refine it where?? This man has absolutely no understanding of how the world works.

Any news on why McCain cancelled his weekly media availability today???

WRONG. You don't know anything about the economy, remember? You said it yourself, senator.

WHAT AN "INDEPENDENT" MAN, MCBUSH IS?

THE FACT IS THAT THE MARKETS ARE COUNTING THE

BUSH DAYS LEFT IN OFFICE. THEY KNOW THE ARTIFICIAL

PRICE BOOST IS A COMING TO A SWIFT END.

So, will Bush take the blame when oil goes back up? I doubt it. The repubs are quick to take the credit when something good happens, but never accept responsibility when they cause a collosal mess.

Oh yes. Thank you very much for hiking it up from $1.50 to almost $5.00 then back down to $4.50! Thank you! This has to be in a DNC ad.

Oh Please, I am getting a headache over all of this. Obama is the cause of the price increase. Bush signs off on the offshore drilling, and the price drops. Because everybody knows that offshore drilling is not going to bring a drop of oil until 2026 or later, and all of that oil will go into the international pool of oil. It will not come directly to us. We will have to buy it on the open market, just like China.

I betcha that the price of oil will drop before the election, to a "almost" manageable price,. Because if it doesn't, and Obama gets into office, we will begin a major change over to alternative energies and cellulosic ethanol, wind power and solar. The oil companies, OPEC included, do not want us to do that, so they will suck us dry, and then go back to an allowable price, to allow us to become complacent again, so that we will not want to push to change to alternatives.

John McCann is obviously more Bush like (Oblivious to reality) than I thought.

are you kidding me? where are the facts to support this claim? maybe we should credit the butterfly that flapped its wings on hurricane dolly.

What is wrong with this "Maverick", BHO is pwning him on the foreign

policy front, what does he even stand for, all he is doing is attack attack

attack, man he has so many bad advisers its not even funny.

Another sign that lets you know why I call him McSame…

What an idiot. So Obama drove prices up over the past 7 1/2 years and now Bush is driving prices down. Wow. Can we all say Bushes 3rd term.

OK Thanks Mr. Bush for Oil prices being down to $125 per barrel. Let's see, oil was JUST UNER $20 WHEN YOU WERE SWORN IN!! THANKS A LOT. Glad McSame brought this to out attention.

HAHAHAHAHAHAHAHA!

Ya right……..

Anything to slam Obama – How delusional are you "My Friend" ??

20 dollars a barrel price drop and what do we consumers see at the gas pumps?

1 penny decrease?

Go back to yelling at the clouds, Mcsenile. It can be quite entertaining at times.

Ummm….NO! It has been widely reported that offshore drilling is not an option that will help us now . We won't even see the effects of it until 2023!

I hate to say it, but he may be right.

I know for a fact the Democrats aren't the cause.

** Nader/Gonzalez 2008 **

all this proves is that the speculators are the ones who are really at blame for the high price of gas

Ok, I'll give him credit for the $10 decrease if he accepts credit for its $100 dollar increase.

Okay in the latest installment of "The World According to McCain", Bush is responsible for the drop in oil prices while Barack is responsible for the rise in gas prices!

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.

yeah right Bush dd not make nothing drop the speculators seen that they were rising oil more than Demand was growing and tney stop raising the expectations because they know that they have barrels just sitting and not being used