Split Over Oil Speculators and Offshore Drilling

As far as public opinion is concerned, the best answer would be to do both.

Americans are nearly evenly divided on which is more important- cracking down on speculators or lifting the ban on offshore drilling — as the debate comes to a head in Congress this week over how to fight rising gas and oil prices. As far as public opinion is concerned, the best answer would be to do both.

A new Rasmussen Reports national survey, taken last night (Monday), finds that 45% think placing more restrictions on energy speculators is more important , while 42% take the opposite view that allowing offshore oil drilling is more important.

Most Americans still favor drilling for oil off the shore of the continental United States and believe that it will help reduce gas and oil prices. Fifty-seven percent (57%) favor offshore drilling versus 29% who are opposed. Nearly the same number (56%) believe that gas prices would be at least somewhat likely to fall if the ban is lifted.

Support for lifting the drilling ban has dropped slightly from 62% since Republican presidential candidate John McCain first proposed it as part of an overall energy strategy in mid-June. His Democratic opponent, Barack Obama, supports the ban, a position national Democrats and major environmental groups have championed for years.

Falling gasoline consumption, increasing supplies, and the threat of more domestic oil production, and the “secret agreement” with Iran have conspired to send the price of oil down. Most think the per barrel price will be pushed below $100 and maybe as low as $80 this Fall. Relieving pressure on consumers and creating a sense of relief.

Hypocritically some in Congress want to “take advantage” of lowering prices to raise federal fuel taxes.