Is Gingrich right about reducing oil price?

No, he is not right. The basic contradiction in this video explains it perfectly.

You can't artificially lower gas prices, and work to get America off gas at the same time. These goals are diametrically opposed to each other.

The current relatively high gas (they are not really high by any objective measure) prices are having an obvious effect. People are driving less, buying smaller cars and carpooling more. Better yet are the long term changes. People are now moving closer to their jobs, and more research is being done in gas-saving technology then ever.

These are exactly the things you want to happen if you are truly interested in energy independence and global warming.

Gingrich (an alleged conservative) suggests a massive government intervention in the free market as his first item. This is a very bad idea.

Drilling in our natural areas is an interesting question that I think needs to be weighed objectively in each case. Those think that cheap gas is worth more than any environmental cost are foolish. We also need to use objective measures of the costs and benefits of these programs (i.e. scientists instead of Republican politicians).

But the fact is this is a question of economics. Gingrich is not only ignoring the blatant contradiction (he wants to lower gas price and gas use at the same time) he is also playing fast and loose with the ease and cost of domestic oil production.