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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by FOXBUSINESS.COM:

President Joe Biden’s White House doubled down on blaming gas stations for high pump prices in a comeback against billionaire Jeff Bezos on Sunday.

Bezos argued earlier Sunday that the Biden administration’s insistence on blaming oil companies for high prices showed “a deep misunderstanding of basic market dynamics.”

The article goes on to state the following:

White House Press Secretary Karine Jean-Pierre escalated the Twitter spat, saying gas companies have refused to lower prices at the pump even as the base cost of oil has fallen.


“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 tweeted Saturday. “Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now.”

Bezos slammed Biden’s message in a tweet that read, “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.”

“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,” Jean-Pierre tweeted in response to Bezos.

“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 added.

REPORT: Jeff Bezos blasts Biden for blaming gas companies for high pump prices

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15 COMMENTS

  1. These people are moronic assholes most of which have neVer really worked a day in their lives. Living off publis teat with no idea how business really works.

  2. I thought he said Russia, Russia, Russia was the problem. To make things worse, he says “for as long as it takes” while on foreign soil. I don’t blame oil companies. They are in business to make business. After all, Biden is giving all our hard earned tax dollars to outsiders & then blames American business for the downfall. What a Jerk! Stop giving our millions to Ukraine & to the invaders of America & let the drilling begin. Make America Great Again!

  3. Her arguing with Bezos is the epitome of the left’s “colonizers ruined this country”. Quite sure Bezos has a better understanding of the economy than Susie Q know nothing about what’s going on replacement secretary.

  4. So the president United States says we’re at war can somebody please call him out on that oh wait the media won’t. I didn’t know we declared war he must have really usurped congress’s power

  5. All the left and the White House are low life’s sewer rats who care nothing for the American people. They need to shut their mouths . We don’t care about anything they have to say

  6. This lame duck administration is failing the American people! PERIOD! Anyone who thinks differently has their had so far up their own asses to see it or they are completely ignorant or both!

  7. Let me get this right, the gas stations, majority that are not own by the oil companies, pay the going gas price up front plus state taxes at delivery but if the spot crude goes down they’re supposed to eat the price difference plus the over tax. i.e . federal tax is 18 cents a gallon but state and local tax us a percentage of the value of the fuel. So let’s say gas is delivered at $4.18/gallon including Fed tax. Now the retailer adds the 8% state tax 33 cents and the 4% County local tax 17 cents plus 4 cents for the dealer so the pump price is $4.72. Now let’s say the next day the spot price drops to $3.89 / gal plus 0.18 fed tax plus $0.326 state tax plus $0.163 County local tax plus $0.04 for the station – which equals $4.599/gal. A $0.12 price drop and Biden wants Oil company to eat the 12 cents per gallon,. We consume 20.47 million barrels or 856.8 million gallons per day. So under Bidens approach Oil company would lose $102.816 million each day the price of oil goes down meanwhile government would keep an extra $3,427,200.

    Ridiculous. Think about heating oil were you have the oil for a month before you need a new tankful. How does he calculate that?

  8. The Biden administration is to blame. Simple explanation, if they gauge prices, why were the prices low under Trump.

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