The POTUS office does not have the power, nor should get involved directly.
There are too many domestic and international variables that are uncontrollable.
Obama Can Control Some Factors That Affect Oil Prices.....
There are countless factors that affect oil prices, and some of them fall outside the president's immediate control, but to argue that an American president has zero ability to impact domestic gasoline prices is simply false. As most people know, the price of gasoline is largely determined by the price of oil. The recent increase in oil prices, and the subsequent increase in gasoline prices, is largely due to a potential disruption in the supply of Iranian oil—there has been no actual decline in international oil production. Conversely, allowing America's oil and natural gas producers to explore our vast oil reserves would absolutely quell concerns about future oil production, increase international spare capacity, and bring down the price of gasoline.
Under the Obama administration, consumers have seen a real increase in energy prices. The price of gasoline has increased by more than 90 percent. Last year, the average American household spent over 8 percent of its income on gasoline, the largest portion in three decades. Still, the president opposes oil and gas development here at home: Billions of barrels of oil contained in Alaska, America's West, and our Outer Continental Shelf are off-limits.
In the face of criticism, the president is quick to trumpet increased domestic oil production going on today. True, the U.S. is producing more of the energy we consume, but these trends stem from increased development of oil and natural gas on private and state lands—production on federal lands is declining.
Far from facilitating domestic production, President Obama has threatened to cripple America's job creators by repealing standard cost recovery tax policies employed by oil and natural gas producers. Raising oil and natural gas producers' taxes by $90 billion would force these employers to delay or scrap future projects—outcomes that can only increase the price of oil.
Christopher Prandoni serves as a Federal Affairs Manager of Americans for Tax Reform and handles energy policy for the organization.
Obama Can Control Some Factors That Affect Oil Prices | Debate Club | US News Opinion
Yes — The administration has done little to reduce oil prices
DANIEL SIMMONS, Director of State Affairs at the Institute for Energy Research.....snip~
Post 95......there are some things he can do. Also getting that agreement from the G8 is major factor.