Jeff Bezos, the founder of Amazon.com Inc., criticized a tweet from US President Joe Biden calling on oil executives to cut gas prices.
Bezos responded to Biden’s criticism of companies that run gas stations and set prices for consumers. “This is a time of war and global danger,” the president tweeted on Saturday. “Reduce the price you charge at the pump to reflect the cost you pay for the product. And do it now.”
Bezos tweeted Saturday night: “Ow. Inflation is far too important a problem for the White House to continue making statements like this. It is either a direct deception or a profound misunderstanding of fundamental market dynamics.”
The national average for gas on Sunday was $4,812, according to AAA, near the all-time high of $5,016 set last month.
ouch. Inflation is far too important a problem for the White House to continue making statements like this. It is either a direct deception or a profound misunderstanding of fundamental market dynamics. https://t.co/XgKfEICZpk
— Jeff Bezos (@JeffBezos) July 3, 2022
The White House took to Twitter again on Sunday to back out against Bezos. Press secretary Karine Jean-Pierre said the increased prices are “not basic market dynamics.” It is a market that is failing the American consumer.”
John Kirby, a senior National Security Council spokesman in the White House, said Biden has proposed measures, including at the Group of Seven summit, that could lower US gasoline prices and free up oil from the Strategic Petroleum Reserve.
“If everyone cooperates, we can lower the price by at least about a dollar a gallon,” Kirby said on “Fox News Sunday.”
Bezos has previously accused Biden of “deception”. In May, the e-commerce executive responded to a tweet from the president saying inflation could be tamed by letting rich companies “pay their fair share”.
Biden has criticized oil and gas companies for making unexpected profits. Gas and energy are a major driver of inflation and a major political problem for Democrats, with midterm elections just a few months away.
† Bloomberg†
