Amazon’s Bezos explodes Biden for weak misunderstanding of Basic Market

President Joe Biden has come under fire from Amazon CEO Jeff Bezos for urging oil companies to reduce excessive gasoline prices, leading the White House on Sunday to defend the U.S. president.

This is a time of war and global risk, it’s my direct message to the companies that run gas stations and set prices at the pump, Biden tweeted on Saturday.

“Reduce the price of the pump to reflect the price you’re paying for the product ৷ and act immediately,” Biden said.

Biden’s remarks, according to Bezos, “are either direct misinformation or a weak misunderstanding of basic market dynamics.”

“Ouch. The U.S. billionaire tweeted on Saturday that the White House should stop making such claims about inflation.

In the run-up to the next legislative election in November, the rise in gas prices at the pump has come to represent a larger price increase in the United States, and the popularity of Vice President Joe Biden is declining.

Biden has often criticized oil companies, claiming that they primarily consider profits rather than the interests of the average consumer.

In response, companies have claimed that they have increased production in an effort to control prices, although these are determined on the world market and are subject to dynamics beyond the control of U.S. oil chiefs.

White House Press Secretary Karin Jean-Pierre tweeted on Sunday that oil prices had fallen by about ড 15 a barrel in the previous month.

“However, the price of gas stations has hardly come down. Isn’t that exactly “basic market dynamics”? The American consumer is being frustrated by the market, he writes.

Since the beginning of June, gas prices have exceeded 5 per gallon, which is unprecedented due to the country’s obsession with automobiles. Prices have dropped slightly now, but they are still significantly higher than the $ 3 mark per gallon from a year ago.

In an appearance on Fox News on Sunday, White House spokesman John Kirby reiterated his support for the president.

Kirby said: “The president is working very, very hard on many fronts চেষ্টা trying to reduce that price.

He cited Biden’s plan to use U.S. strategic oil reserves to increase the volume of goods on the market and a proposal to suspend the federal gas tax this summer, both of which would require congressional approval.

He is aware that working on it together will not solve all the problems, but it will help. According to Kirby, we can reduce it by at least $ 1 per gallon.

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