No, it was the oil prices of Trump's first term. Just before Biden and the Democrats completely destroyed the oil industry with their fight against oil and their green new scam. He terminated oil concessions, and also stopped the construction of the Keystone XL pipeline that was started by Trump, firing 40'000 workers in the process.
Instead of Trump's design for the US exporting oil & gas to Europe, Japan & China, they were back to buying from Russia et all.
(Biden also immediately authorized the pipeline construction between Russia and Europe, which Trump had stopped).
This caused the inflation we have all been suffering under, and also caused the war in Ukraine, which was essentially free for Russia thanks to the increased oil prices as they are a producer.
Biden and the corrupt crooks that controlled him knew exactly what they were doing.
