July 23rd, 2008
01:20 PM ET
11 years ago

McCain: Give Bush credit for oil price drop

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/07/19/art.mccainsat.ap.jpg caption="McCain said Pres. Bush deserves more credit for oil price drop Wednesday."]
(CNN) - 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.

"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," the presumptive Republican nominee said at a Wilkes-Barre, Pennsylvania town hall.

Crude oil prices are down about $20 a barrel from their record-setting intra-day high of $147.27 a barrel back on July 11.

President Bush announced on July 14 he was lifting executive ban on offshore drilling, although Congress has yet to act on his call to lift its own drilling ban.

Asked about McCain's comments today, White House Press Secretary Dana Perino replied, "I don't know that we fully deserve the credit, but I do think in was important to send a signal to the market that we are serious about moving forward."

Earlier this week, McCain's campaign released a new television spot blaming Barack Obama's opposition to offshore drilling for the nation’s rising gas prices.

For more on McCain's town hall event, tune into Campbell Brown: Election Center tonight at 8 pm ET.


Filed under: Economy • John McCain • Popular Posts
soundoff (411 Responses)
  1. A nightingale Sings in Berkley Square

    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

    July 23, 2008 03:19 pm at 3:19 pm |
  2. Steve

    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?!?!??!?!

    July 23, 2008 03:19 pm at 3:19 pm |
  3. kim hussein taylor portland, oregon

    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!

    July 23, 2008 03:19 pm at 3:19 pm |
  4. skunkrat The Marine

    WOW! What will the Old FOOL say next?

    July 23, 2008 03:20 pm at 3:20 pm |
  5. Greg, NY

    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?

    July 23, 2008 03:20 pm at 3:20 pm |
  6. Reacine

    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

    July 23, 2008 03:20 pm at 3:20 pm |
  7. Pat

    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.

    July 23, 2008 03:20 pm at 3:20 pm |
  8. S-Man

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

    July 23, 2008 03:20 pm at 3:20 pm |
  9. Pick Me! Pick Me!

    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??

    July 23, 2008 03:21 pm at 3:21 pm |
  10. Joey, Philly

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

    July 23, 2008 03:21 pm at 3:21 pm |
  11. Rudy NYC

    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.

    July 23, 2008 03:21 pm at 3:21 pm |
  12. prefer koolaid than your arsenic

    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.

    July 23, 2008 03:21 pm at 3:21 pm |
  13. James B. New Jersey

    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.

    July 23, 2008 03:21 pm at 3:21 pm |
  14. K.

    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!

    July 23, 2008 03:21 pm at 3:21 pm |
  15. maggiemae

    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.................................................

    July 23, 2008 03:21 pm at 3:21 pm |
  16. jason, gainesville

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

    July 23, 2008 03:21 pm at 3:21 pm |
  17. FL_Independant

    what a dimwit. GET OFF MY LAWN!!

    July 23, 2008 03:21 pm at 3:21 pm |
  18. Ian MN

    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.

    July 23, 2008 03:21 pm at 3:21 pm |
  19. ANGIE

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

    July 23, 2008 03:21 pm at 3:21 pm |
  20. Ryan

    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.

    July 23, 2008 03:22 pm at 3:22 pm |
  21. a southern bell for OBAMA

    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.

    July 23, 2008 03:22 pm at 3:22 pm |
  22. Bill-C-Bus OH

    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.

    July 23, 2008 03:22 pm at 3:22 pm |
  23. VON BISMARK, Vienna

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

    July 23, 2008 03:22 pm at 3:22 pm |
  24. Ben - Portland

    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.

    July 23, 2008 03:22 pm at 3:22 pm |
  25. Debby, NJ

    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 !!!

    July 23, 2008 03:22 pm at 3:22 pm |
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