[READINABLUESTATE]

Monday President Bush lifted the executive order blocking offshore drilling. The very next day oil has the largest one day fall in price in 17 years.

Whoever says that drilling will have no impact on the price of oil is a fool. Just the talk of drilling will influence the market.

[stuartcr]

Speculation?

[Phantom Lord]

And with the congressional ban set to expire on Sept. 30th unless the democrat congress extends the ban, the market could roll. I am not holding my breath though.

But if it does, here is what is likely to be the spin.

1) Bush and his oil buddies are forcing the price down to help John McCain and will then drive it back up to maintain their obscene windfall profits.

2) Barack Obama and the democrats are showing true leadership in the expansion of efforts to bring alternatives to market, lessening our need for foreign oil and the markets are responding to a future with less demand.

3) Supply has not increased, and any potential increase from drilling is still 10 years in the future. This drop in prices show the GOP's misguided and wrongheaded approach to oil. More supply is not needed, but additional regulatory oversight and alternative fuel development is needed. Which the GOP will not provide. Vote Barack.