Bezos questioned the demand for lower gas prices by Biden.
The root causes of inflation have been a point of contention between the President and the Amazon founder.
Biden realized that capitalism is all about exploitation.
Joe Biden's call to cut gas prices was either straight-ahead misdirection or a deep misunderstanding of basic market dynamics, said Jeff Bezos in a twit.
The president warned gas sellers not to use the war in Ukraine to push up prices.
"My message to the companies running gas stations is simple: this is a time of war and global peril," Biden said. The price at the pump should reflect the cost of the product. Do it right now.
Bezos replied by quoting Biden. The White House doesn't want inflation to be a problem. Either it is straight ahead misdirection or a deep misunderstanding of basic market dynamics.
Democrats have been at odds with oil companies because of the high price of fuel. The average price for a gallon of gas is $4.71, compared with $3.12 last year.
Congress wants to stop companies from pushing up the price of gas to make more money. The move was dangerous, according toLarry Summers.
The feud between the pair has been going on since May, when Bezos accused Biden of being a bigot for blaming big corporations for rising prices.
—Jeff Bezos (@JeffBezos) July 3, 2022
The Chinese state media praised Biden for drawing the attention of Bezos.
The US President finally realized that capitalism is all about exploitation. He didn't think this was true before.
The White House recently called for a three-month gas tax holiday, but it has run into opposition and was derided by Barack Obama as a "gimmick".
Business Insider has an article on it.
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