Remember when the Republicans were demanding off-shore drilling to reduce gas prices last Summer? The argument, most often repeated by Senator McCain and Sarah Palin, was that even though ZERO gallons of actual oil would be available right away, the mere suggestion of off-shore drilling would cause a precipitous drop in oil prices, and therefore the price of gas at the pump.
Well, a barrel of oil is $40 and dropping today.
The price of a gallon of gas is $1.92 and rising.
So much for that bit of stellar Republican economic theory.
Adding… For the record, oil and gas prices began falling last Summer because Democrats quietly closed the “Enron Loophole” when they attached the rule to the 2008 farm bill.