Eric Bolling has a great point about how Obama could defeat the speculators if he really wanted to. He points out that speculators only make money by betting on price rises. Open up more domestic drilling and they would no longer bet on price increases.
The Huckster is a fool.
The price of oil could drop by simply announcing the opening of more drilling and/or exploration. Bush did it. But no one would believe 0crackhead now. A slew of actual permits would have to be approved. He has squandered his power as POTUS away. His words have no more influence than mine do now.