And yes drilling will help. The very news of drilling will bring oil prices down. Speculation of approval of drilling has already brought prices down already, over $20 under the high of $147. Gas prices at least where I live are down $0.15 - $0.20 since six weeks ago.
No, what brought price down is normal market price fluctuation. Speculation about drilling brought price down by exactly same amount as news that Lindsay Lohan appears to be gay. What we need not to forget is that high oil prices reduce pollution and increase innovation and keep Americans out of SUVs. It's win-win. Offshore drilling in the long run will keep prices down by killing most if not all of human race thus driving demand down.