With gas prices across the USA dropping daily due to increased domestic production on privately held lands, we thought we'd take a look back to the campaign of 2012 and a speech given by President Barack Obama, which included the line, 'We can't drill our way to lower gas prices!'

In March of 2012 gas prices in the US were well above $3 a gallon and in some states were on the high side of $4. It was at a campaign stop in New Hampshire that Obama told the crowd, 'We can't drill our way to lower gas prices. There are no quick fixes or silver bullets. If somebody tells you there are they're not telling you the truth.'

At the time of the President's speech oil was close to $100 per barrel. Today, as the USA surpasses the Saudis on the way to becoming the world's largest oil producer, the per barrel cost is near $60.