Amazon founder and the World’s third-richest man, Jeff Bezos, reignited his feud with the White House over the weekend when he slammed President Joe Biden for urging gas outlets to cut down petrol prices.
In a tweet on Saturday, Biden urged that the companies drop gasoline prices, which have risen to about $5 per gallon in many areas of the country, claiming that “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. And do it now,” Biden directed companies.
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. And do it now.
— President Biden (@POTUS) July 2, 2022
Bezos soon after wrote on Twitter: “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.”
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
On Sunday, White House press secretary Karine Jean-Pierre rejected the criticism from Bezos, arguing that oil prices had dropped by about $15 a barrel in the past month while prices at the pump had “barely” fallen.
“But I guess it’s not surprising that you think oil and gas companies using market power to reap record profits at the expense of the American people is the way our economy is supposed to work,” she wrote on Twitter.
Oil prices have dropped by about $15 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. https://t.co/xpsK0QsQPT
— Karine Jean-Pierre (@PressSec) July 3, 2022
Bezos has locked horns with Biden’s administration in the past. In May, he accused Biden of misleading the public and blamed his administration for a spike in inflation
