Jeff Bezos slammed Joe Biden for having a “deep misunderstanding of basic market dynamics”
Jeff Bezos has lashed out at President Joe Biden after he appealed to oil companies for lowering gasoline prices. The businessman also slammed the President for having a “straight head misdirection”, and a “deep misunderstanding of basic market dynamics.”
Taking to Twitter, the American President wrote, “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.” He further added, “Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now.”
Later the American billionaire called out the president for his remark, and said that his remarks “amounted to either straight ahead misdirection or a deep misunderstanding of basic market dynamics.” Taking to Twitter he also added, “Ouch. Inflation is far too important a problem for the White House to keep making statements like this.”
Meanwhile, White House Press Secretary Karine Jean-Pierre took to Twitter on Sunday and wrote, “oil prices have dropped about $15 a barrel over the past month,” she also added, “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.”
Kirby was also seen defending the president after appearing in a news channel, “The president is working very, very hard across many fronts… to try to bring that price down,” further adding, “He knows that it is not going to solve all the problems, but it will help if everybody cooperates on this. We could bring the price down at least by about one dollar a gallon.”
When Joe Biden attacked oil companies for making huge profits:
Earlier too Joe Biden regularly slammed the oil companies for being only profit making units and not thinking about the average consumers. However, the companies backed themselves by saying they are on the way to increase the oil production to tame the oil prices. The companies also cleared it out that oil prices are under the control of US oil giants.
On the other hand, gasoline prices are on the rise in the car crazy nation. It has been above $5 a gallon since early June. Although prices have fallen slightly, still it is far from the $3 a gallon level of a year ago.