More On: Jeff Bezos
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Jeff Bezos slams Biden for saying that gas companies are to blame for high prices at the pump
Why does Jeff Bezos constantly plan three years ahead of time and make only a few decisions per day?
Jeff Bezos, the founder of Amazon, criticized President Biden for blaming gas station companies for sky-high prices at the pump. He said the president was either 'misdirecting' or showing a 'deep misunderstanding' of how the economy works.
Biden wrote in a tweet on Saturday, "My message to the companies that run gas stations and set prices at the pump is simple: we are living in a time of war and global danger."
"Bring down the price you charge at the pump so that it matches the price you pay for the product," the president said. "Do it right now."
Bezos, who is the second-richest person in the country, responded to Biden's message on Twitter later Saturday. He said that Biden was wrong.
“Ouch. The White House can't keep making statements like this about inflation, wrote Bezos, the owner of the Washington Post.
"It's either a clear case of being misled or a deep misunderstanding of how the market works."
On Sunday, the Biden administration responded to the criticism.
"Over the past month, oil prices have dropped by about $15 per barrel, but prices at the pump haven't changed much. That is not "basic market dynamics." "The market is failing the American consumer," tweeted Karine Jean-Pierre, a press secretary at the White House.
"But I guess it's not strange that you think it's okay for oil and gas companies to use their market power to make record profits at the expense of the American people," she said.
John Kirby, a spokesman for the National Security Council, disagreed with Bezos's claim that Biden might be trying to trick people on purpose during an interview on Fox News.
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
“We obviously take great exception at the idea that this is somehow misdirection,” Kirby said. “The president is working very very hard across many fronts to try to bring that price down.”
The back-and-forth is happening at a time when gas prices are high for Americans because Russia invaded Ukraine and inflation is skyrocketing.
This year, gas prices in the US hit all-time highs. AAA says that the average price of a gallon of regular gas hit $4.81 on Sunday. This is up from $3.12 a year ago.
An industry expert warned last month that prices could go up even more and reach "apocalyptic" levels if hurricane season causes major problems for US oil refiners.
The Biden administration has tried to put most of the blame on Russian President Vladimir Putin's war. They have also pointed the finger at oil companies, saying that they are artificially limiting supply by refusing to drill on leasing sites approved by the federal government.
Biden told reporters on Thursday that US drivers would have to pay big money for "as long as it takes" for Ukraine to beat Russia's invasion.
Also on Thursday, the head of the National Economic Council, Brian Deese, said that in the name of the "liberal world order," Americans would have to keep paying more at the gas pump for the rest of their lives.
“What you heard from the president today was a clear articulation of the stakes,” Deese said during an appearance on CNN when asked about families who can’t afford the high costs per-gallon. “This is about the future of the liberal world order and we have to stand firm.
“But at the same time, what I’d say to that family and to Americans across the country is you have a president, an administration that is going to do everything in its power to blunt those price increases and bring those prices down,” Deese added.
This wasn't the first time Biden and an outspoken American billionaire got into a fight with their words.
Early in June, it came out that billionaire Elon Musk has such a "super bad feeling" about the US economy under Vice President Joe Biden that he plans to fire about 10% of the people who work at his electric car company, Tesla.
In response to Musk's point of view, Biden made fun of the businessman and his company, SpaceX.
Biden wished him luck on his trip to the moon.
Musk responded on Twitter with a link to a press release from NASA in 2021 saying that SpaceX had won a $2.89 billion contract to send the next American astronauts to the moon.
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