So Senator John McCain has now credited the recent $10 drop in the price of oil to President Bush and his amazing policies.  As Senator McCain claims:

Ten days ago, Bush lifted a 1990 presidential ban on offshore drilling and urged Congress to do likewise. “The price of oil dropped $10 a barrel,” said McCain, who argued that the psychology of lifting the ban has affected world markets.

“McCain Credits Bush for Drop in Oil Price”,MSN, July 23 2008,http://www.msnbc.msn.com/id/25816555

Well, all I can say to that is — bzzzzztttt — wrong answer. Sorry Senator McCain I don’t think the fact that President Bush has lifted the executive order banning drilling offshore on the continental shelf has had anywhere near that much effect on the price of oil — not so long as the Congressional ban on offshore drilling remains in place. On this one you’re way off target. If anything, this administration has done nothing substantive to help drive the price of oil down. If anything it’s the slowdown in the American economy, a little bit of strength in the U.S. dollar, and conservation by Americans as a whole which has slowed consumption of oil stocks and have driven the price down.

It’s sad…at one time I really admired Senator McCain as an maverick and an independent thinker — one who wouldn’t just follow the party line blindly. Unfortunately, it looks like that John McCain has left the building.

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