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Tags: oil and gas | energy prices | biden | inflation

Big Oil Calls Out Biden Blunder

Big Oil Calls Out Biden Blunder
President Joe Biden speaks during an Independence Day celebration on the South Lawn of the White House, July 4, 2021, in Washington, D.C. (AP)

By    |   Monday, 04 July 2022 10:57 AM EDT

"Bring down the price you are charging at the pump," U.S. President Joe Biden tweeted Saturday, reiterating a mantra of the Biden administration, that inflation is equally the fault of price gauging at the gas pump and of "Putin's war" in Ukraine.

Biden followed that up on Sunday with another tweet for "companies running gas stations," saying, "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."

Big Oil did not take the presidential accusations sitting down.

The U.S. Oil and Gas Association retorted, in a tongue-in-cheek tweet of its own, "Working on it, Mr. President. In the meantime, have a Happy 4th and please make sure the WH intern who posted this tweet registers for Econ 101 for the fall semester."

Even Amazon founder Jeff Bezos weighed in on the side of the oil and gas industry's position, saying via Twitter:

"Ouch. Inflation is far too important a problem for the White House to keep making statements like this," posted the Washington Post owner. "It’s either straight ahead misdirection or a deep misunderstanding of basic market dynamics."

The average price of gas nationwide on July 4, 2022 is $4.81, according to the American Automobile Association. A year ago it was $3.31.

© 2022 Newsmax Finance. All rights reserved.


StreetTalk
"Bring down the price you are charging at the pump," U.S. President Joe Biden tweeted Saturday, reiterating a mantra of the Biden administration, that inflation is equally the fault of price gauging at the gas pump and of "Putin's war" in Ukraine.
oil and gas, energy prices, biden, inflation
225
2022-57-04
Monday, 04 July 2022 10:57 AM
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