Bachmann, speaking to a town-hall meeting in South Carolina, said she would pursue energy policies that send pump prices down to levels not seen since early 2009, at the thick of the U.S. recession. â€śUnder President Bachmann you will see gasoline come down below $2 per gallon again,â€ť she said in Greenville. â€śThat will happen.â€ť Bachmann and other GOP White House contenders are calling for much more aggressive U.S. oil drilling â€” her campaign backs drilling in Alaskaâ€™s Arctic National Wildlife Refuge and wider offshore production, alleging President Obama has placed too many restrictions on development. Despite Bachmannâ€™s vow to ease consumersâ€™ costs, however, U.S. officials have few options to substantially affect gasoline prices, especially in the near- or medium-term. Bachmann: If elected, gas prices would fall to less than $2 per gallon - The Hill's E2-Wire "You have to be careful what you wish for because the recipe for cheap prices these days is economic disaster," said Tom Kloza, chief oil analyst at the Oil Price Information Service, to the Los Angeles Times. "If we go below $2 a gallon, it probably means there has been a lot of wealth loss and we are in a deflationary period."... The price of oil is tied to global oil prices -- not just on how much oil the United States can produce. So even if the United States could start tapping into its oil reserves, it's unlikely that it would have a major impact on the global price of oil. Ultimately, Bachmann's statement that she will lower gas prices could appeal to consumers feeling their wallet get smaller and smaller after gas station visits. But if they were smart and looked into it a bit - they'd realize it's much better to have gas prices in the $3 to $4 dollar range, as they currently are, than the $1.79 it was in 2008. Why Michele Bachman's $2 Gas Promise is a Bad Thing - International Business Times Drill babay drill will not have a sufficient effect even if Bachman can convince enough voters to elect her in 2012. She would have to drastically increase US government subsidies to artificially depress gas prices, or demand due to the global recession would have to drop precipitously, which it won't. Sucks being in third place one week after you were in first. You might be willing to literally say anything. "Batsh!t crazy stupid" might describe her and her followers.