re: Biden hasn’t even been in office a year.

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Are you saying the increase in gas prices are not Biden’s fault ?

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I don't think it's anyone's "fault". Certainly you are aware of how capital has fled the drilling space, yes? That's mostly because the industry has vaporized a trillion dollars of investor capital over the past 10 years. The balance is mostly due to "ESG" investing shifting dollars away from traditional energy.

And to the extent that drilling on federal land matters to the oil price (it likely doesn't, as it's but a tiny fraction of overall acreage), drilling approvals even on federal land are UP under Biden.

LINK

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Approvals for companies to drill for oil and gas on U.S. public lands are on pace this year to reach their highest level since George W. Bush was president, underscoring President Joe Biden’s reluctance to more forcefully curb petroleum production in the face of industry and Republican resistance.

The Interior Department approved about 2,500 permits to drill on public and tribal lands in the first six months of the year, according to an Associated Press analysis of government data. That includes more than 2,100 drilling approvals since Biden took office January 20.

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The pace dropped when Biden first took office, under a temporary order that elevated permit reviews to senior administration officials. Approvals have since rebounded to a level that exceeds monthly numbers seen through most of Trump’s presidency.

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