President Joe Biden posted a tweet Saturday criticizing “companies running gas stations and setting prices at the pump” for high gas prices, and Amazon founder Jeff Bezos quickly called him out.
Biden added companies controlling prices should bring the prices down to reflect the actual cost they pay for the product. The administration accused many across multiple industries, including food and gas, of hiking prices beyond even the current sped-up rate of inflation to boost quarterly profits.
It also blames the current economic circumstances, especially high prices at the pump, on the Russian invasion of Ukraine and Russia’s President Vladimir Putin.
May figures showed the rate of inflation at 8.6%, the highest level since 1981. Bezos pointed that out, quote tweeting Biden by writing “inflation is far too important a problem for the White House to keep making statements like this.”
He accused Biden’s statement of purposeful “misdirection” or of having a “deep misunderstanding of basic market dynamics.”
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. https://t.co/XgKfEICZpk
Jeff Bezos (@JeffBezos) July 3, 2022
It seems like both sides of the aisle are expressing frustration with Biden, whose approval rating keeps sinking lower and lower each month of his presidency. As of the latest poll from the Harvard Center for American Political Studies and the Harris Poll, Biden’s approval rating sits at a low of 38%.
Notably, one-third of Democrats said they would support Biden if he ran again in 2024.
Reactions to the tweet from both right and the left called out Biden underneath his post for the same tweeting as opposed to legislating. Many users interpreted the tweet as a call for local gas stations to lower their prices.
Jeff Bezos and Elon Musk are both attacking Biden. And yet, they never attacked Trump for tanking the economy. They’re angry because Biden wants to tax them & furious that Biden is helping working families instead. Great job, Mr. President. Keep triggering the MAGA billionaires!
— Dash Dobrofsky (@DashDobrofsky) July 3, 2022
Oil execs are raking in record profits. Biden is right to call them out. Bezos is afraid that oligarchs like him will be pressured into paying Amazon workers more to keep up with inflation and stop union busting https://t.co/tQun2D0znF
— Andrea Chalupa __ (@AndreaChalupa) July 3, 2022
Bezos is splitting hairs here if he’s trying to imply that the major oil companies are a different division than the gas station divisions for the same companies. Yes, BP oil@can bring down the prices at BP gas stations, and any franchise owners have influence, too!
— Bowen – Fed Up (@ktraco2pups) July 3, 2022