"President Obama may continue to peddle the myth that energy production is up on his watch, but gas prices and production statistics indicate otherwise," Cole said. "According to Washington Post fact checkers, Obama's own Energy Information Administration confirms that production on public lands is down 14 percent for oil and 9 percent for natural gas compared to 2010."

Obama argued during the second presidential debate last week that oil production is up, while GOP candidate Mitt Romney argued that the administration has limited the number of domestic development permits.

Cole also said he agrees with Secretary of State Hillary ClintonHillary Rodham ClintonHannity: I won't discuss Seth Rich story for now "out of respect for the family" Clinton slams Trump's budget: 'An unimaginable level of cruelty' Trump’s crisis of legitimacy MORE, who said last week that energy is a matter of security and stability. However, he said Clinton's message "doesn't seem to have reached liberals in Congress or Secretary Clinton's colleagues in the Obama administration."

Specifically, he said Senate Democrats are already pushing the administration to delay oil and gas drilling in the Arctic Ocean by Shell Oil. Cole also added that these Democrats are using their "favorite strategy," which is to call for more research.

"This is the same excuse used to hold up the Keystone pipeline, one of the most exhaustively researched and approved projects ever," he said.

Cole added that rhetoric alone will not lower gas prices. "Only action to unleash American energy exploration and end our dependence on foreign oil can break the crippling cycle of rising gas prices," he said.