Jeff Bezos Trashes Biden for Blaming Gas Prices on Oil Companies: ‘Straight Ahead Misdirection’ or a ‘Deep Misunderstanding of Basic Market Dynamics’
Amazon founder Jeff Bezos believes President Joe Biden is guilty of either spreading misinformation or lacking a fundamental knowledge of economics.
Bezos levied his criticism in response to a tweet in which the president blamed high gas prices on the oil companies — accusing them of charging consumers a rate which is not commensurate with what gas is costing them.
“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,” Biden wrote. “Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now.”
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
“Ouch,” wrote Bezos, in response.
In a Saturday night tweet, the Amazon founder called out Biden for either deception or ignorance.
“Inflation is far too important a problem for the White House to keep making statements like this,” Bezos wrote. “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
Biden and Bezos have been squarely at odds on the subject of inflation since May. Previously, the Amazon founder ripped the president for arguing that increased corporate taxes would bring down inflation.
“Raising corp taxes is fine to discuss,” Bezos wrote. “Taming inflation is critical to discuss. Mushing them together is just misdirection.”
The White House fired back — accusing Bezos of looking out for his own self-interest.
“It doesn’t require a huge leap to figure out why one of the wealthiest individuals on Earth opposes an economic agenda for the middle class that cuts some of the biggest costs families face, fights inflation for the long haul, and adds to the historic deficit reduction the president is achieving by asking the richest taxpayers and corporations to pay their fair share,” White House spokesperson Andrew Bates said. “It’s also unsurprising this tweet comes after the president met with labor organizers, including Amazon employees.”
