'Economically illiterate': Bezos and others bash Biden for blaming gas stations for high gas prices, Chinese state media applauds the president
From WWW.THEBLAZE.COM
President Joe Biden was taken to task over a recent tweet where he blamed gas stations for sky-high fuel prices. While Amazon founder Jeff Bezos was critical of President Biden's latest scapegoat for record gas prices, Chinese state media applauded Biden for realizing "that capitalism is all about exploitation."
Less than two weeks ago, President Biden demanded oil companies lower their gas prices.
"To the companies running gas stations and setting those prices at the pump, this is a time of war, global peril, Ukraine. These are not normal times. Bring down the price you are charging at the pump. Do it now," Biden commanded.
President Biden doubled down on his directive for gas companies to lower prices with a tweet on Saturday.
"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," the tweet 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."
According to the National Association of Convenience Stores, "Only about 0.1% of the fueling outlets in the country are owned by a major oil company." NACS stated that 62% of U. S. gas stations are owned by an individual or family who only operates a single retail gas location.
NACS also noted that gas stations make a "10- to 15-cent profit" on a gallon of gas.
NBC News reported, "Station owners make most of their profits in their stores, on sales of food and drinks, as well as alcohol where sales are legal."
Commentators quickly called out the president for not taking responsibility for record gas prices while assigning guilt to gas stations, Vladimir Putin, former President Donald Trump, and the COVID pandemic.
Entrepreneur Patrick Bet-David: "First the White House blamed Trump. Then COVID. Then Putin. Then Oil companies. Now gas station owners. What’s next, blaming car owners for driving too much?"
Sen. Ted Cruz (R-Texas): "My message to the guy running your teleprompter: It’s YOUR fault. Reverse the dozens of executive orders, regulations & agency actions targeting American energy, and gas prices will fall…FAST."
Journalist Erielle Davidson: "The market sets the price at the pump, not the gas stations. How are you this economicall... (Read more)
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Submitted 660 days ago
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