Oil companies of course like high oil. Do they have anything to do with the price? Why would Exxon have suffered a loss for four quarters in a row recently if they did?
Oil companies have nothing to do with the price of oil. They produce what they can sell to cover their costs (hopefully) and make a profit. If allowed by the President, they can send it on pipelines to refineries. OPEC and Russia are the big controllers.
So Biden is right when he blames Putin for the price. That comes down to what Biden could have done to head off the war in Ukraine, or what he should have done about importing Russian oil.
We know what did happen and what has happened to,the price of oil. Could Trump have handled any of that better? We will never know because Biden was elected.
Good or bad, as far as the US influence is involved, he is the responsible party.
And of course there was the Covid effect which no one could have controlled.
There was a big downturn in demand. Oil companies have to plan their costs on expected conditions. Oddly, they did not expect the Covid pandemic. Higher costs than revenue equals loss.
In the minds of those on the Left we are just some more government spending and programs from the promised utopia! Miracle Joe will soon wave his magic wand once more!
Where the oil comes from or where it is going does not impact the price. Oil is fungible in the global market. It is global supply and demand that sets price. Cancellation of Keystone reduced supply.