August 8, 2022

Bezos slammed Biden’s call to lower prices at gas stations

Amazon CEO Jeff Bezos speaks during the UN Climate Change Conference (COP26) on November 2, 2021 in Glasgow, Scotland, Britain. Paul Ellis/Poole via REUTERS

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July 3 (Reuters) – Amazon.com Inc (AMZN.O) Founder Jeff Bezos renewed his feud with the White House over the weekend as the world’s third-richest man criticized President Joe Biden for calling on companies that run gas stations to lower their prices.

In a tweet on Saturday, Biden said, “This is a time of war and global danger” and demanded that companies lower gasoline prices, which have soared to $5 a gallon in many parts of the country.

“Reduce the price you charge at the pump to reflect the cost you pay to produce. Do it now,” the president said. said.

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Bezos soon wrote on Twitter: “Oops. Inflation is too important an issue for the White House to make statements like this. It’s either straight up misdirection or a deep misunderstanding of basic market dynamics.”

On Sunday, White House spokeswoman Karine Jean-Pierre dismissed Bezos’ criticism, arguing that oil prices have fallen by about $15 a barrel in the past month, while pump prices have “barely” fallen.

“But no wonder you think oil and gas companies using market power to make record profits at the expense of the American people is the way our economy works,” he wrote on Twitter.

Bezos has locked horns with Biden’s administration in the past. In May, he accused Biden of misleading the public and blamed his administration for rising inflation. read more

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Reporting by Akriti Sharma in Bangalore; Editing by Paul Simao

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