He can openly admit that our ridiculously loose monetary policy is one of the greatest causes of higher oil prices. Fat chance that he does that, but if he did, that would put the spotlight on Bubble Ben and his Fed cretins. Cockroaches hate the light, and would scurry off in all directions. If the chief of the land lent weight to the idea that printing money drove up commodities, it would go a long way towards fixing it.
Bush and Co tried that in 2007 and 2008, but the Arabs (rightly so) responded that it had nothing to do with supply.
He can announce approval of the Keystone Pipeline. He can announce the opening of the 97% of U.S. territory that is off limits to drilling now. He can announce an initiative to expand the use of natural gas as a fuel. Sure, it will take years for all of that to be developed but as we've seen time and again, it has an immediate effect on oil and gas prices.