And what economic theory does not? Yours is literally and ancient whine, simply adapted to your politics of the moment. Do you really think Biden controls the oil industry, or any president has in the last hundred years, even in this country, much less any other? The chief driver of momentary inflation during my lifetime has been energy, specifically oil and this is known clean back to before the OPEC oil embargo of the 1970s. Notice as we have increased production while Biden has been in office, others have decreased, the effect being to keep the supply/demand across the planet in check to continue the profits. This isn't Biden. It never was, but the effect on economy, inflation, growth is energy dependent, and the current main energy supply worldwide is fossil fuel, particularly oil. So, now we are not only the planet's largest producer and distributor, but are now, not only producing more than any other country, but indeed more than we have ever produced in anytime in history, yet prices not consistently uniformly falling, as supply from other countries curtailed to maintain the production/demand point without allowing another glut to form, raising competition, forcing them to compete on volume to maintain profits at higher cost.