You can have high production despite gov't polices.

For example, we saw that during the Obama administration when Obama tried to get limit fracking on publicly-held lands (but that ruling got struck down). Oil prices got a lot lower when fracking took off but it was no thanks to the Obama administration. Obama also banned new oil and gas drilling in federal waters in the Atlantic and Arctic Oceans right before he left office.

In the case of Biden, there are a number of angles here. I am sure there are more out there, but I am just going to zero in on a few (partly because it's late).

1. The Strategic Petroleum Reserve Stock has dropped 43% since Biden was sworn in.

2. In his first 10 days in office, Biden directed the secretary of the Interior Department to halt new oil and natural gas leases on public lands and waters and begin a thorough review of existing permits for fossil fuel development. The amount of leasing in recent months is very low (see https://www.theguardian.com/environment/2023/sep/29/biden-administration-oil-gas-lease-sale-climate-crisis)

3. In 2022, Biden canceled a lease of almost 1,000,000 acres in Alaska allegedly due to lack of interest, but it's also because the administration isn't encouraging drilling and gives far more attention to those who are hellbent against gas and oil being used at all (to the detriment of the country). There are various other examples where the administration says one thing but then puts up obstacles, including the blocking of new LNG-export terminals.

4. Regarding nuclear power, in August 2023, he blocked almost 1,000,000 acres from uranium mining, even though the area is rich for that.

To me, it's not President Biden operating in this arena, it's President Kerry.

Side note on fracking unrelated to this discussion: I haven't thought about fracking for a while, but I recall we used to hear about micro-earthquakes that were alleged due to fracking but I haven't heard back them in years. Is the issue still occuring? If not, is it because fracking is down or is it because they figured something out?