The US Oil & Gas Association (USOGA) took aim at President Biden after his childish tweet, which asked gas companies to simply reduce prices at pumps and give Americans relief.
Biden’s Childish Solution to Quell Gas Inflation
Biden had a “simple” solution to curb oil and gas prices; he advised companies to give gas at a price that reflects their purchasing prices in the “time of war.”
The USOGA sarcastically replied to Biden they are “working” on bringing prices down. USOGA then wished Biden a happy Independence Day and asked the president to admit the White House “intern” who posted the tweet into Econ 101.
Econ 101 teaches some core microeconomics concepts, including supply and demand, government policies’ impact on prices, and market structures.
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
Prior to this criticism, multi-billionaire Jeff Bezos slammed Biden for the same tweet, stating the White House should try to bring inflation down, instead of making these kinds of statements.
He further added the tweet depicts either “straight-ahead misdirection” or “deep misunderstanding” of market dynamics, which the White House is unable to comprehend.
The Biden administration hit back at Bezos. National Security Council Coordinator for Strategic Communications John Kirby said the president would take “great exception” to these comments misdirecting Americans.
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
Kirby also bragged about Biden’s efforts to bring gas prices down, noting the president collaborated with G7 leaders to quell inflation, released historic amounts of strategic oil, and tried to bring gas tax relief for Americans.
However, none of these measures brought oil and gas inflation down.
This tweet of the president came at a time when gas prices are standing at $4.812 on average nationwide, not to mention it touched a whopping $6.244 in the blue state of California.
Biden Has Personal Enmity For Oil and Gas Companies
For Biden, blaming oil and gas companies for high prices is a normal day affair.
He has repeatedly asked oil companies to quell their profit, increase production, pay more taxes, and deliver cheap commodities to Americans.
Whereas oil and gas giants tried to school Biden on market dynamics, claiming they have already increased production, but the market structure is out of their control.
Just a couple of days before posting this solution on Twitter, Biden once again blamed Russian President Vladimir Putin for the gas price hike, claiming Americans can endure inflation “as long as it takes” to stop Putin’s ambitions in Ukraine.
However, Biden signaled toward all of the chaos in his presidential campaign a long time ago.
In one of the Democratic debates in 2019, moderator Tim Alberta asked him if he would be willing to sacrifice oil and gas production by risking thousands of blue-collar jobs? Biden replied, “yes.”
After getting into the White House, he immediately stopped the Keystone XL pipeline, which paused the supply of 870,000 barrels of oil from Canada to the United States.
Likewise, he stopped oil and gas leases on federal lands on his very first day of office.