Politico aptly notes that Michele Bachmann was entirely alone at Wednesday night's GOP debate in her pledge that she'll return the US to $2-a-gallon gasoline. Even Ron "Silver Dime" Paul wouldn't entertain her conceit.
Bachmann's $2 gasoline plan might not be as wacky as the other things she's talked about, like the existential threats posed by efficient lighting, public schools, the gays, and the revenge of the USSR. But trust me, it's just as delusional.
I won't bother rehashing all the reasons it's a pipedream—you can see Bryan Walsh, Brian Merchant, or CNN Money for apt take-downs. The upshot is that Bachmann wants to do things that wouldn't have a big or immediate impact on oil prices (like increasing drilling offshore) but not things that could (like limiting oil speculation). The best she could hope for, if she wants to make good on this promise, is that the US slides back into a recession.
Wednesday's debate set Bachmann up as an also-ran this year, with Rick Perry, Mitt Romney, and John Huntsman clearly dominating the conversation. I guess promising a pony in every gas tank was the best she could do to set herself apart from the pack.