It does tend to create inflationary pressures via an increase in the borrowing cost of government (often expressed as the government bond rate), which in turn makes the entire cost of many other forms of borrowing more expensive, which in turn changes the expectation of what a dollar or Euro or pound is worth today as compared to what it will be worth in a year's time.

He didn't say overnight. Who said that?

And Sunak just cancelled all fracking that Truss wanted to start. So the UK has basically decided to NOT have any form of cheap energy.

You reap what you sow.