The White House has been hammering the ‘Putin Price Hike’ message in an effort to distract the American people from the true issues associated with skyrocketing gas prices amid a period of record-high inflation.
Instead of taking even a semblance of responsibility, the Biden administration has instead passed the blame on anyone or anything they possibly can, including billionaires, CEOs of oil companies, Putin, and even gas stations! Meanwhile, anyone with two brain cells can clearly read the writing on the wall.
When you restrict oil supply as Biden has done since day one of his presidency, it comes as no surprise when the market eventually goes haywire and prices skyrocket. Lest we forget, Biden called off construction for the Keystone XL Pipeline and has effectively outlawed offshore drilling while canceling several oil & gas leases.
Never once has any of these measures even been considered as a factor in current gas prices.
Well, the oil and gas industry is officially fed up with Biden’s lies after the cognitively deficient President once again blamed gas station owners for not artificially lowering the price per gallon, showing once again the fundamental lack of knowledge regarding economic matters.
The U.S. Oil & Gas Association (USOGA) mocked Joe Biden over the weekend after the wildly unpopular president demanded that privately-owned gas stations lower their prices and that they “do it now.”
Working on it Mr. President. In the meantime – have a Happy 4th and please make sure the WH intern who posted this tweet registers for Econ 101 for the fall semester… https://t.co/6yLpbDDRKc
— US Oil & Gas Association (@US_OGA) July 3, 2022
Biden’s claim comes after NBC News reported earlier this year that gas stations make “15 cents a gallon on average, according to the National Association of Convenience Stores.”
The cost of gasoline has been increasing for most of Biden’s presidency as his administration has continued to block drilling efforts. A new report from The Wall Street Journal detailed how the far-left administration “plans to block new offshore oil drilling in the Atlantic and Pacific oceans.”
Amazon founder Jeff Bezos, one of the most successful businessmen in history, also mocked Biden for the tweet.
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
The unmistakably stupid White House press secretary, Karine Jean-Pierre, attempted a retort to Bezos, making herself appear foolish in the process.
White House hits back at Bezos: @PressSec: “But I guess it’s not surprising that you think oil and gas companies using market power to reap record profits at the expense of the American people is the way our economy is supposed to work. pic.twitter.com/unBaJ6Pmhc
— Alex Thompson (@AlexThomp) July 3, 2022
The Federal Reserve Bank of Dallas noted that gas prices remaining high despite a slight decrease in the price of a barrel of oil can be “attributed to events in the U.S. retail gasoline market beyond the control of oil producers.”
Moreover, to demand the private sector correct the mistakes made by the federal government is beyond the pale. Gas station owners are not billionaire fat cats like Bezos or Musk — they’re small business owners looking to make a living off selling gasoline.
Instead of making demands on small business owners, perhaps Biden should look within and reverse some of his policies that are wreaking havoc on the supply of oil.
Author: Vasily Ivanov
