That's an interesting theory. However, I believe that actions speak louder than words and in this case Biden has ramped up handing out permits. There is the distinct possibility that Biden like all politicians is a liar and is willing to lie to get votes. Has he shut down any drilling - no. Has he ramped up permitting - yes. Has he put additional oil in circulation via the strategic reserve - yes. Biden has actually done everything in his power to ensure more oil hits the market, not less.
Then there is the reality of how oil executives are responding to Biden's rhetoric. You're saying oil executives are afraid to invest in drilling (cause and effect). Yet drilling is way up; they can't invest enough in drilling right now. I can search up statements from oil executives and people who cover the oil industry; I guarantee they're all bullish. The cause and effect you claim exists not only doesn't exist, but it's actually the complete opposite. I suspect that's because oil executives also consider actions much more potent than words. It's kinda like internet threats; you Bobby can talk all you want about meeting at the local Walmart or whatnot, but in the end we all nobody is hopping on a plane. It's all just gossamer.
So I have to ask what has Biden actually accomplished that led to increased gas prices? He's not only been completely ineffective at slowing drilling, he has instead increased permitting, which will lead to increased drilling. Furthermore, the oil industry is completely ignoring his rhetoric and expanding operations at a record pace - 60% increase in drilling - that's nuts. 16.5% increase in output year over year. Oil executives clearly disagree with your analysis and are moving in the opposite direction. I guess an F-150 in every driveway has them confident that drilling for oil is a very very safe venture. OPEC+ cutting production can only give them more confidence. War in Ukraine, the icing on the cake for oil executives. With Exxon trading at all time highs, not only do oil execs disagree with you, but institutional investors also disagree with you.
Since gas prices have dropped 25% in the last 3-4 months, what did Biden say or do to cause this reversal in gas prices?