“Inflation is too serious a problem for the White House to keep making statements like this,” commented the world’s third richest man.
The multi-billionaire founder of online department store Amazon Jeff Bezos accused him US President Joe Biden that he either misleads or cheats by calling fuel distributors to reduce prices immediatelyprompting White House officials to rush to the head of state’s defense.
“My message to the companies that operate gas stations and set prices at the pump is simple: we are in a time of war and global danger”the US president said via Twitter on Saturday. “Reduce the prices you charge at the pump to reflect the cost you pay for the product. And do it now.”
For Mr. Bezos, the presidential reasoning is “either an attempt to mislead, or a profound misunderstanding of basic market dynamics.”
“Inflation is too serious a problem for the White House to continue making statements like this,” added the third richest man in the world.
The surge in retail fuel prices, a symbol of a broader rise in the cost of living in the world’s largest economy, is denting the popularity of the Democratic president, who frequently accuses oil giants that they are profiteering and making no effort to solve the problem.
The latter counter that they have increased their production and the operation of their refineries, but prices are set in the world market and subject to dynamics beyond their control.
THE White House spokesperson Karin Jean-Pierre was quick to defend Joe Biden yesterday, noting, also via Twitter, that “Oil prices fell by about $15 last month”, but nevertheless those at the gas stations “minimally decreased”. “This is not about ‘fundamental market dynamics.’ This is a market that is draining the American consumer,” he added.
The gallon (the 3.8 liters) of gasoline in the US exceeded the symbolic limit of 5 dollars for the first time in early June. It has eased somewhat since then, but remains far from the $3.10 where it was a year ago.
THE John Kirby, bth newly appointed White House communications coordinator for strategic issues, also defended Joe Biden’s position yesterday Sunday, during an interview he gave to the conservative Fox television network.
“The president is working very hard, on various fronts (…) to lower prices” at the pump, he assured, before referring, among other things, to his proposal to suspend the federal fuel consumption tax – subject to congressional approval – as well as his decision to release large amounts of US strategic oil reserves.
Certainly Mr. Biden “He knows this isn’t going to solve all the problems, but it would help if everyone worked together and we were able to get prices down by about $1 a gallon.”he added.
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