Jeff Bezos accused US President Joe Biden of deceiving the public or claiming he had a fundamental knowledge of the dynamics that truly determine prices after President Biden called on corporations operating gas stations to cut the price of petrol.
Bezos tweeted on Saturday night, “Ouch. Inflation is far too important a problem for the White House to keep making statements like this.”
Biden urged gas stations to lower their prices for fuel in a direct plea to them.
Biden stated on Saturday morning, “My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril. Bring down the price you are charging at the pump to reflect the cost you’re paying for the product,”
The post, according to Bezos, was quite revealing to him and may have shown how little market knowledge Biden had.
On Sunday, the Biden administration responded to the criticism. “Oil prices have dropped by about $15 a barrel over the past month, but prices at the pump have barely come down. That’s not basic market dynamics. It’s a market that is failing the American consumer,” White House press secretary Karine Jean-Pierre said in a tweet.
This year, gas prices in the US hit record highs. According to AAA, the average price of a gallon of normal petrol reached $4.81 on Sunday, up from $3.12 the previous year.
Ouch. Inflation is far too important a problem for the White House to keep making statements like this. It’s either straight ahead misdirection or a deep misunderstanding of basic market dynamics. https://t.co/XgKfEICZpk
— Jeff Bezos (@JeffBezos) July 3, 2022
If the upcoming storm season significantly disrupts US oil refineries, prices may increase much more, a sector expert said last month.
In addition to blaming oil firms for artificially limiting supplies by refusing to drill on leasing locations authorized by the federal government, the Biden administration has attempted to attribute a large portion of the responsibility to Russian President Vladimir Putin’s conflict.
It wasn’t the first time Biden and a vocal American billionaire had an argument before their conversation with Bezos.
Tim Young, a comedian, referred to Biden’s post as pure gibberish.
As Biden continues to attempt to place the blame for record-high gas prices somewhere in advance of the November elections, Bezos has emerged as an unusual opponent of the Biden administration.
Over the last year, Biden has placed the blame for the highest-ever gas prices in US history on former President Donald Trump, MAGA Republicans, the coronavirus epidemic, oil producing corporations, and even gas stations. Russia and its ongoing conflict with Ukraine have also received criticism.
Bezos and the White House previously fought over growing inflation, which the White House attempted to attribute to big businesses like Bezos’ Amazon.
