Bachmann promises $2/gal gas as president

GREENVILLE, S.C., Aug. 17 (UPI) -- Republican U.S. presidential hopeful Michele Bachmann promises voters gas prices would fall to $2 per gallon if she makes it to the White House in 2013.

Speaking Tuesday at a town hall meeting in South Carolina, the Tea Party favorite said her energy policies would send gas prices plummeting, The Hill reported.

"Under President Bachmann, you will see gasoline come down below $2 per gallon again. That will happen," the Minnesota congresswoman said, arguing expanded drilling off both U.S. coasts and in Alaska's Arctic National Wildlife Refuge would cause America to be awash with oil and gas.

A gallon of regular gasoline goes for an average $3.60, and prices have trended downward of late, the Energy Information Administration said Monday. Gas hasn't been below $2 a gallon since 2009 after plummeting after the economy had collapsed into deep recession.

Bachmann also criticized Federal Reserve Chairman Ben Bernanke's moves to increase the money supply.

"All they're doing is stealing from you," she said. "You earned this money, you've saved this money. And by the time President Obama's done, your dollar's lost its value."

Texas Gov. Rick Perry, a newcomer to the GOP primary race, said this week it would be almost treasonous to expand the money supply any further.