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.