Remember her chant, “Drill, baby, drill”? Well, how about that:
Back when gas topped $4 a gallon, Republicans chanted “drill, baby, drill” at rallies across the country — arguing more domestic drilling would increase supplies, reduce dependence on foreign oil and boost the U.S. economy. Democrats, almost universally, mocked the GOP plan. In 2012, President Obama called it “a slogan, a gimmick, and a bumper sticker … not a strategy.”
“They were waving their three-point plans for $2-a-gallon gas,” Obama told a laughing audience during an energy speech in Washington. “You remember that? Drill, baby, drill. We were going through all that. And none of it was really going to do anything to solve the problem.”
Today, Democrats are singing a different tune, as increased domestic drilling has led to a record supply of domestic crude, put some $100 billion into the pockets of U.S. consumers and sent world oil prices tumbling. The price of a gallon of regular gasoline on Monday was $2.13 nationwide, and below $2 in 18 states.
“Of course [Obama] was wrong. We’ve seen oil prices fall internationally now by half since last June,” said American Enterprise Institute economist Ben Zycher. “The U.S. is now the biggest oil and gas producer in the world, or almost that, and the effect has been to drive prices down as we’ve seen.”
Barack Obama: wrong about everything