The White House hits back at Jeff Bezos, saying it's "not surprising" that he thinks oil and gas companies should "make record profits at the expense of the American people."

Amazon CEO Jeff Bezos speaks during his news conference at the National Press Club in Washington on September 19, 2019.

Amazon CEO Jeff Bezos speaks during his news conference at the National Press Club in Washington on September 19, 2019.Pablo Martínez Monsivais, Archive/Associated Press

  • Jeff Bezos and the White House traded insults over America’s high gas prices.

  • Bezos accused Biden of “misdirection or a profound misunderstanding of the basic dynamics of the market.”

  • The White House fired him in what was just the latest dispute between Biden and Bezos over inflation.

The White House has slammed Jeff Bezos after the billionaire Amazon founder accused President Joe Biden of not understanding why gas prices are high.

Biden sent a cheep on Saturday suggesting that gas sellers were taking advantage of the war in Ukraine by setting gas prices unnecessarily high.

“My message to the companies that run gas stations and set prices at gas stations is simple: This is a time of war and global danger,” Biden said. “Reduce the price you’re charging at the pump to reflect the cost you’re paying for the product. And do it now.”

Bezos critically responded to the presidentwriting in a retweet: “Ouch. Inflation is too big an issue for the White House to keep making statements like this. It’s either direct misdirection or a profound misunderstanding of basic market dynamics.”

But White House press secretary Karine Jean-Pierre doubled down on Biden’s remarks.

“Oil prices are down about $15 over the last month, but prices at the pump are barely down. That is not the ‘basic dynamics of the market’. It is a market that is failing the American consumer,” he wrote in a cheep.

He also went a step further and criticized Bezos directly: “But I guess it’s not surprising that you think oil and gas companies use market power to make record profits at the expense of the American people, it’s the way it’s supposed to be.” our economy works.

Another White House official also came to the president’s defense. John Kirbythe strategic communications coordinator for the National Security Council, said Sunday on Fox News that Bezos was wrong and that Biden “says exactly what’s on his mind in terms that everyone can understand.”

Biden has blamed Russia’s war in Ukraine and oil and gas companies for record US inflation and high energy costs.

Last month, the president criticized Exxon Mobil for making “more money than God this year” while Americans pay record prices at the pump. He too met with CEOs of oil companies to encourage them to do more to lower gas prices.

Bezos has argued with the White House on inflation on multiple occasions. In May, after Biden said ensuring corporations pay their fair share of taxes could combat inflation, Bezos did too. I call is “disorientation”.

Read the original article at Business Insider

Source link

Leave a Reply

Your email address will not be published.