Unfortunately, for Biden, there isn't much he can do in near-term to alleviate these price pressures. He went out of his way to warn oil companies against price gouging, but this is really more about blame-shifting than it is an actual solution to higher prices. The Biden administration did announce a release of $30 million from the Strategic Petroleum Reserve, yet prices keep on rising. He cannot force oil companies to drill more. In the long-term, the Biden plan still calls for decarbonization of the US economy, which hurts the investment picture for new, very costly oil and gas projects, but in the very, very long-term could allow the US to be independent from fossil fuels. This is not a short-term solution, however, and the price of gas is going to keep going up further, which will test the American public's willingness to continue this war against Russia. Biden is seeing a small polling bounce in the war, it's important to note, but the domestic consequences of this as they become more clear will test the American people's patience for this war as energy prices rise.
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