See what’s clicking on FoxBusiness.com.
President Joe Biden’s White House doubled down on blaming gas stations for high pump prices in a comeback against billionaire Jeff Bezos on Sunday.
Bezos argued earlier Sunday that the Biden administration’s insistence on blaming oil companies for high prices showed a “profound misunderstanding of fundamental market dynamics.”
White House press secretary Karine Jean-Pierre escalated the dispute on Twitter, saying gas companies have refused to cut gas station prices even though the base price of oil has fallen.
“Oil prices have fallen by about $15 in the last month, but pump prices have barely budged. This is not a “major market dynamic”. This is a market that is failing the American consumer,” she wrote to Bezos.
JEFF BEZOS EXPOSES BIDEN’S ‘WRONG STEERING’ ON INFLATION, SAYS MANCHIN IS ‘SAVING’ TEMPERATURES ‘FROM HIMSELF’
JEFF BEZOS: WHITE HOUSE IS TRYING TO GET OFF INFLATION BECAUSE THEY KNOW IT ‘HURTS THE MOST’
“But I guess it’s no surprise that you think oil and gas companies using market power to extract record profits at the expense of the American people is the way our economy should be running,” she added.
Biden’s battle with Bezos began with a tweet from the president on Saturday demanding that gas companies unilaterally cut prices.
“My message to the companies that run gas stations and set gas station prices is simple: this is a time of war and global danger. Reduce the price you charge gas stations to reflect the price you pay for the product. And do it now,” he ordered.
Gas companies are just the latest subject of Biden’s ire as the White House scrambles for solutions — and excuses — for sky-high gas prices and record inflation.
Biden blamed both on Russian President Vladimir Putin during a trip to Europe last week.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
“At the end of the day, the reason gas prices are going up is Russia, Russia, Russia,” Biden continued. “The reason the food crisis exists is because Russia, Russia, is not allowing grain to leave Ukraine.”
Add Comment