Obama is absolutely in bed with the oil industry.
It is funny though, because not being in bed with the oil industry would mean allowing free market principles. Which would mean no gasoline subsidies, no oil subsidies, strict safety regulation, etc. Those would cause the price of gas to jump.
Bush and Obama being in the pocket of the oil companies (I would say Obama less than Bush, merely because Obama did come down fairly hard on BP and other companies with deepwater drilling; Cheyney was famous for replacing the regulators with people (his friends) tied to the industry) is actually good for your bottom line in the short-term. However, in the long-term it is bad, since it takes away incentive to find an alternative to oil/gas.