White House hits back at Jeff Bezos, saying it's 'not surprising' he thinks oil and gas companies [View all]

[ck4829]

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

"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 said. "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 responded critically to the president, writing in a retweet: "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."

But White House Press Secretary Karine Jean-Pierre doubled down on Biden's statements.

"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," she wrote in a tweet.

https://news.yahoo.com/white-house-hits-back-jeff-231855141.html

A market that is failing the American consumer, indeed.