But the republicans said they could just drill a hole and oil price will fall.

Since mid 2009 we went from 200 to 1200 drilling rigs at work at any one time.  Add to that the technology jumped, they drill faster, deeper and branch out from a single location and bring up more oil from each hole than in the past.  But, the price of oil trends up since this chart first date of March 07.  Increased oil drilling in the US does not lower price.  The GOP is lying, again, about drilling to lower our price, they can't do it, Obama can't do it, the world market that sets this price.

And one more thing, Obama is not supressing the activity of the oil industry, they are drilling with more rigs now than any time before.  And the price of oil rises, we cannot drill in the US to lower oil prices, and the oil companies don't want lower prices, god damn do you think they want to cut their own profits  to a trickle?  That's not the trickle down economics they been talking about.

And the rest of the world is drilling like hell to, oil production is up everywhere, but the demand rises to meet the supply.  As long as we are an oil based economy the jumps in prices from world events will knock the steam out of us every few years and throw the poorest among us into situations of energy starvation.