Romney and other Republicans say Obama’s regulation policies are helping to spike gas prices by restricting the development of domestic oil supplies.

There has been tremendous grief on Obama’s campaign using “high gas prices” as a downfall for the Obama administration. The New York Times reports Republican Candidate Mitt Romney accused President Barack Obama of having a presidential policy where Romney was reported to have said the policy intends “to see energy prices rise,” in which Romney mocked the president for once saying that he would like gasoline prices to “change gradually.”

Romney suggested that Obama’s intentions to move people to wind and solar could be another serious downfall in cost. The New York Times brought up the 2010 book “No Apology,” by Mr. Romney described a gradual increase in the cost of energy as the kind of market-based incentive that conservatives could embrace. In the book, Mr. Romney called for greater domestic exploration and drilling.

Courtesy of Damon Winter from The New York Times

Romney suggested that higher energy prices could cause collateral damage on people who drive great distances, businesses that consume a lot of energy and people on fixed incomes.

Pro-Obama ad ties Romney to Big Oil
Courtesy of Ross D. Franklin, AP

However, President Obama and his campaign fire back saying “While President Obama is taking serious action to make America less dependent on dirty and dangerous sources of Middle East oil and create clean energy jobs here at home, Mitt Romney and the oil companies bankrolling his campaign are profiting from high gas prices politically and financially,” said Paul Begala, senior adviser for the group called Priorities USA Action; reported by USA TODAY. “How can the American people trust Governor Romney to bring down gas prices when he and his biggest backers benefit so much from gas prices being so high?” Begala said.