By TOM RAUM - Associated Press Writer
Republican John McCain on Wednesday credited the recent $10-a-barrel drop in the price of oil to President Bush's lifting of a presidential ban on offshore drilling, an action he has been advocating in his presidential campaign. The cost of oil and gasoline is "on everybody's mind in this room," McCain told a town-hall meeting.

Bush recently lifted the executive order banning offshore drilling that his father put in place in 1990.

"The price of oil dropped $10 a barrel," said McCain, who argued that the psychology of lifting the ban has affected world markets.

The White House didn't go that far. Presidential spokeswoman Dana Perino said the price drop also could reflect diminished demand.

There are 42 gallons in each barrel.

A barrel of light, sweet crude fell $1.86 to $126.56 on the New York Mercantile Exchange. That's down from more than $140 a barrel earlier in the summer.

No mention of Hurricane Dolly missing the Houston refineries or the legislation imposing regulations on speculators was mentioned by either McCain or the White House.

McCain did said that the cost of oil and gas was "an energy issue, an environmental issue and a national security issue.

He was spending the day campaigning in Pennsylvania, and then heading to Ohio. McCain had planned to go to Louisiana but was forced to cancel the trip due to severe weather. There had been speculation that he would meet with a potential vice presidential pick, Gov. Bobby Jindal, while in Louisiana.

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