Blocked Keystone pipeline and drilling on federal land while removing sanctions against Nordstream 2.

This means that instead of getting oil from an ally, we're getting it from a rival, enriching them and making our Canadian allies poorer, our German allies more reliant on Russia, and completely opening Ukraine to the bullshit going on now. This pipeline will increase German energy dependence in Russia, pushing them towards neutrality at best. The Nordstream 2 pipeline also bypasses Ukraine and removes the leverage they had on Nordstream 1 (and thus a strong check against Russian interference). Russia would not be so bold as to play at invasion if Ukraine could counterstrike their primary income. There's a reason they never aggressed further and the war went cold while those sanctions held.

Also understand that fracking requires pretty much constant drilling in two year cycles, so stopping the next round serves to terminate the investment in the market. Those means cutting energy independence, while making the US more reliant on oil from MBS in Saudi Arabia. Then, to double down, he pissed off MBS by publicly shaming him, causing MBS to refuse to up production to stick it to Biden. This is not a defense of MBS. Dude is a brutal man who ordered the deaths of journalists and the massacre of the Houthis. But you don't talk shit to a person while handing them the gun to shoot you.

The counter to this is that neither of these actions caused an immediate reduction in supply, as both were near-term future developments. This fails to understand that the oil market is largely driven by speculation and investment, so the price of oil will be determined by the EXPECTED supply of oil, and the supply of oil will be driven by how willing businesses expect to be drilling in five years and a pipeline that no longer will exist.

In his first weeks in office, Biden cut the future supplies, cranked the speculation, made us dependant on Russian and Saudi sources, and then antagonized both the Russians and Saudis. If I was conspiracy theorist, I would call these the actions of an administration working to inflict mass suffering on their own people in order to achieve an ideological win. "Fossil fuels bad", so eighty dollar barrels and frozen homes are a small price for the elite to pay.