Rasmussen Reports has a new poll here that shows that 67% of American’s support more domestic drilling and that 64% of them believe that more drilling will lower prices. This should be an issue that McCain hammers over and over and over. It seems to me that there is no other topic in today’s society more discussed the the out of control price of gasoline. The good news is McCain has said today that he supports the lift of the federal ban on off-shore drilling in places like California and Florida. There was a ban imposed in 1981 that prohibited the exploration and drilling of off-shore oil deposits. My theory is that if the Chinese can drill offshore, why can’t we.

This is not enough however. We should be encouraging the drilling of both ANWR and the Bakken fields in the Dakotas. Some geologists have estimated that the Bakken fields has an estimated 413 billion barrels of recoverable oil in it. This compares to Saudi Arabia’s Ghawar field (the worlds largest) which has yielded about 55 billion barrels of oil. The real trouble of the Bakken field is that it is more difficult to get to, its about 2 miles below a layer of dolemite and earth. About 4.5 billion barrels are recoverable with current means of oil drilling. While oil was 30-50 dollars per barrel this oil may not have been worth the trouble, I’m guessing that at $100 plus a barrel, suddenly the Bakken field is looking like a gem in the rough.

Once again, for our economically challenged friends out there, the immutable law of economics states that price is determined by supply and demand. Prices are very high right now because supply is down and demand is up. You have to effect one side of the equation. We know that demand is going to continue to go up, so the only thing to do is try to increase the supply. McCain should stop all his blabbering about global warming, the war, etc. and every day give the same stump speech about drilling and increasing supply. I have a feeling that if he hammers this home he could win the election in a landslide.