Biden didn’t end fossil fuel subsidies, not by a long shot. He rolled back a few small programs buried within existing budget allocations. But the long-standing federal tax breaks benefitting oil & gas companies remain, the repeated efforts of some Democratic politicians to end them notwithstanding.
Moreover, Biden warned Congress NOT to raise existing excise taxes on gasoline and motor diesel, which were last increased in 1993. The real value of those excise taxes in real terms has declined by 55% over the last 32 years.
You raise some good points, and I think it's important to explore these topics further. I'm assuming you saw the Biden executive order that I'm referring to when I mentioned ending fossil fuel subsidies and new leases on oil and gas drilling?
Yes, I did. If you're talking about his budget proposal to Congress, you are aware I assume that those are worth not much more than the proverbial bucket of spit. None of these cuts were enacted. That's why one sees Dem members of Congress introducing bills in each session to achieve those cuts.
The other part of Sec. 209 was an instruction that "The heads of agencies shall identify for the Director of the Office of Management and Budget and the National Climate Advisor any fossil fuel subsidies provided by their respective agencies, and then take steps to ensure that, to the extent ..."
"... consistent with applicable law, Federal funding is not directly subsidizing fossil fuels." If they identified and eliminated anything (have you seen a list anywhere?), it was small potato stuff.
I suppose I didn't look at it like that. While I can reason with that EO, the needless war in Ukraine that could've been prevented some 30 years ago, was a key driver to the inflation jump IMHO, along with the failure to quickly rectify supply chain issues during the post-COVID rebound.