"With Americans furious at high gas prices, the economy tottering, and an intense presidential campaign underway, oil has now become a very serious battleground. President Bush and John McCain are calling for expanded drilling in America, while the Democrats and Barack Obama say no. So who is correct? Talking Points has said that it's simply foolish not to drill in ANWR, a desolate place that can be kept largely pristine with new technology. By the way, Senator McCain disagrees with me. Drilling offshore and in the Rockies is more complicated - any drilling in Colorado and Florida would have to be controlled and non-invasive. And what about Iraq? American taxpayers have forked over more than $500 billion to give the Iraqi people a chance at freedom. That country is now pumping two-and-a-half million barrels of oil a day, so why isn't Iraq giving the USA a price break? Then there are the speculators we talked about last night. Tough new standards should be imposed on the speculative oil market. Finally, flex-fuel vehicles should be fast-tracked. Both Obama and McCain have deficits when it comes to solving the oil mess, but the first one to get on the side of the folks on this issue will win the election."

The Factor was joined by Dick Morris, who analyzed the political impact of high oil prices. "Obama has a problem," Morris declared. "The Democratic Party doesn't like oil. They don't want you to drill in Alaska, they don't want you to drill offshore or in slate. It's because they're so committed to climate change and they don't mind the high price of energy because that will move people away from oil." The Factor reminded Morris that John McCain can't take advantage of the issue. "What you say is true - the Democratic Party and liberals put global warming above national security. But McCain can't seize the issue because he's against drilling in ANWR. You have to put national security ahead of global warming theory."

News Link: Bush and McCain lead charge to drill

Barack Obama warned his political opponents to stop criticizing his wife Michelle, saying "families are off limits." Meanwhile, Mrs. Obama appeared on The View Wednesday and said there are "elements of racism" in the current campaign. FNC analyst and radio host Tammy Bruce expressed her disappointment with Michelle Obama's appearance. "What's interesting about Michelle Obama," Bruce began, "is that she has been honest and has spoken her mind. But what I saw on The View was much more artificial. She's going to do herself a disservice if she turns into a 'Stepford Wife.' As a feminist, I was disappointed." The Factor added that Mrs. Obama will be under a microscope. "Michelle Obama has now gone into the most intense arena in the world. She's going to be marketed as the lady next door, and Barack Obama is setting it up so you can't criticize her. I'd do the exact same thing if I were Barack Obama."

News Link: Michelle Obama co-hosts 'The View'

News Link: Video: Obama 'disappointed' McCain hasn't defended his wife

Connecticut Senator Chris Dodd, head of the Banking Committee, apparently received two highly favorable refinancing deals from troubled Citywide Mortgage. Republican Congresswoman Michelle Bachman entered the No Spin Zone and called for an investigation of Dodd and other beneficiaries. "These are six high-profile Democrats who are involved," Bachman said. "How can they ask the American middle class to write a big check to bail out mortgage companies when these politicians are getting a piece of the action. This is why the American people have such a low opinion of Congress." The Factor reported that Dodd apparently accepted significant financial favors. "It looks to me like Senator Dodd saved $77,500 dollars by getting a favorable interest rate. Countrywide told him that he was getting the 'VIP treatment,' but he never asked what that was. He's taken lower mortgage rates than any other American can get, and I think Congress has to investigate."

News Link: Democrats under fire for sweetheart mortgage deals

Mike Gilbert, formerly O.J. Simpson's booking agent, has written a book about Simpson's arrest and trial for murder. Gilbert told The Factor that he knew Simpson was guilty, but helped him get off. "When he was arrested," Gilbert recalled, "the first thing that came to my mind was that he finally did it. That month leading up the murders he was so dark and removed from reality. He was on anti-depressants and I thought that he did it because of the Prozac." The Factor castigated Gilbert for helping Simpson get away with two murders. "You knew he did it and you helped him get away with it. I don't know how you live with yourself. The whole crew around him knew that he killed her and you all sat there and helped him."

Featured Book: How I Helped O.J. Get Away With Murder: The Shocking Inside Story of Violence, Loyalty, Regret, and Remorse by Mike Gilbert

Dennis Miller began his weekly commentary by criticizing Michelle Obama as an incessant complainer. "She's beautiful and has a young vibe," Miller observed, "but I don't want her to be First Lady.. It's tired, that hangdog thing of hers. Princeton, Harvard, the old man potentially the leader of the world. It's time to drop the hangdog thing, that gets a little tedious." Miller turned his attention to Ed McMahon, who is reportedly broke and in danger of losing his home. "Ed has always been classy with me, but if you overextend, bad things can happen. Part of the vigorish of life is the fact that you can fall between the cracks, and if you buy a house that's too expensive for you and the market goes to hell, this is what happens. I feel sorry for Ed, but what are you going to do? You have to scale down and get the house you can afford."

News Link: Ed McMahon in danger of losing home

Internet expert Amanda Carpenter began with the story of police officers in Richmond, Virginia, whose embarrassing photos showed up on the web. "There's a site that solicits lewd photos," Carpenter reported, "and someone uploaded photos of scantily-clad girls with police officers making mock arrests. The most astounding thing about this case is the excuse the officers gave - they said they didn't know this would appear on line. It was really stupid." Carpenter also gave an update on the Obama campaign's web site that was created to combat rumors and smears. "I have a problem with this web site because it's nothing more than the equivalent of an online spin room. Real journalists need to keep doing their homework and not rely on this site." The Factor added that "the people who run this are turning it into an ideological web site rather than a real vigilant attempt to set the record straight."

News Link: Police department in trouble for salacious photos

Wednesday's Patriot: Singer Jennifer Lopez, who surprised graduating students at a grade school for autistic children. And the Pinhead: Joan Rivers, who went on British TV and insulted actor Russell Crowe with a string of unprintable expletives. Nominate a Pinhead or a Patriot by sending an email to pnp@billoreilly.com.

News Link: J-Lo treats kids to private show

A sampling of your recent e-mails:

Ed Cooper, Aztec, NM: "Bill, Karl Rove is ten times smarter than you and a gentleman, unlike you. We can drill our way out of the oil mess."

Leo Hickman, Bloomington, MN: "Bill, you are more right than Rove. Thank you for sticking up for the folks and exposing the oil speculators."

Sid Cohen, Las Vegas, NV: "Bill, you are right about market traders distorting oil prices. I'm all for making money but not when it harms the country."

Sam Carollo, Visalia, CA: "Mr. O, my father worked for GE for 40 years. If he knew the company continues to do business with Iran he would turn over in his grave."