It's not too late. Even the act of drilling in ANWR would cause spot and world prices of oil to fall.
Or, if even a small percentage of Americans would cut back on driving a tiny bit each week, gas prices would plunge.
Do the math. For many the taxes they pay each year on gas equals or exceeds the income tax they pay.
You're right it's not too late and I hope that the Republican's stick with one message during the election, drill, drill, drill. Ordinary people aren't going to relate to all the fluff about "alternative fuels" but will relate to who is for and against getting more oil here at home.
A year ago our family went from 2000 gal/yr of gasoline to 600 gal/yr of diesel. Didn't help. Petrol prices/gal are still up.