Biden’s Friend Just Turned Ugly Against Him
(RightWing.org) – The greatest visible symptom of Biden’s troubled presidency is on the signs on America’s roads. In early June, the average national price for a gallon of gas exceeded $5 for the first time ever. On Wednesday, July 6, AAA said the average price for regular gas was $4.779. While not the only contributor to the 8.6% inflation registered in May, it’s one of the most significant.
On Saturday, President Joe Biden repeated his answer to lowering gas prices on Twitter. The president’s demand caused Amazon and Washington Post owner Jeff Bezos to respond in kind. So, who was right, and why are gas prices so high?
Is Biden or Bezos Right?
So, what did Biden say that wrinkled one of the world’s richest man’s shirts? Once again, the president demanded gas stations bring down the prices they charge consumers at the pump and stop making a profit on what they sell.
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.
Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now.
— President Biden (@POTUS) July 2, 2022
Obviously, that didn’t sit well with Bezos, who supports the Left on most of its agenda. Bezos shot back, saying inflation is too vital for Biden to characterize it wrongly. He said the president’s view was either a misdirection (from his failed energy policies), or he didn’t understand basic economics and how the markets work.
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
Over the last twenty years, there’s been much debate and some hyperbole about climate change. In 2006, former Vice President Al Gore once said the issue was so dire that the world had only 10 years to solve the problem. Environmentalists within the Democratic Party influenced Biden to enact European-style energy policies. The goal is to transition the country from fossil fuels to renewable energies, which have proven to not work for Germany putting it in a state of dependence on Russia for its oil.
Biden’s unspoken policy is that America must stop using gasoline to reduce climate change. From day one in his administration, he enacted a war on US energy companies.
Gas Stations Lowering Prices Isn’t the Solution
In 2021, Democrats alleged that oil and gas companies were gouging consumers. They’ve dropped the accusation in recent months. Here’s why. The most significant factor driving gas prices is the cost of crude oil in international markets. It accounts for 60% of the price of a gallon of gasoline.
Then there are issues with refineries. The fewer there are, the lower the gasoline supply as the operating plants struggle to meet consumer demand. The cost of refining oil into gas and consumer demand creates another price increase. Refineries are operating at 95% capacity — if one hurricane hits the gulf coast this season, or an unforeseen incident occurs, it could drive gas prices even higher.
So, why is Biden pushing gas stations to lower prices when much of it is out of their control? Is it a public relations campaign to misdirect his own failed policies or does he really not understand basic economics as Bezos suggested?
Copyright 2022, RightWing.org