Leaders in the oil and gas industry have officially grown tired of Joe Biden’s constant misdirected attacks as they struggle to provide Americans with gas at a reasonable price.
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
The Biden White House has demonstrated a deliberate lack of economic knowledge as they attack small businesses and the private sector as a whole for skyrocketing gas prices amid a period of record-high inflation.
Founder of Amazon Jeff Bezos echoed the sentiments of the oil industry after Biden once again attacked gas stations for his horrendous energy policies.
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
In an attempt to manage the narrative on Biden’s gas price crisis, White House press sec Karine Jean-Pierre ‘clapped back’ at Bezos when in fact she just dug the hole even deeper.
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
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 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.
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.”
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.
Author: Nolan Sheridan