Bezos Targets Biden Over 'Gas Price Cut Pressure' "Misunderstanding Market Dynamics"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kim Hyunjung] Jeff Bezos, the founder and chairman of Amazon, targeted U.S. President Joe Biden, who has been pressuring oil companies to lower gasoline prices.

According to Bloomberg on the 3rd (local time), Chairman Bezos said, "Inflation is too important an issue for the White House to make statements like this," adding, "This is either the wrong direction or a profound misunderstanding of basic market dynamics."

Earlier, President Joe Biden posted on his social media emphasizing that U.S. oil companies should immediately lower (gasoline) prices. On the 10th of last month, Biden also pressured by saying, "ExxonMobil made more money last year than God."

He said, "My message to the companies setting (gasoline) prices (oil companies) is simple. This is a time of war and global risk," and added, "Lower the (oil) prices you charge. Lower them right now."

Biden's remarks came after local media reported that ExxonMobil's preliminary second-quarter profits are expected to reach $18 billion (23.4 trillion won), backed by the surge in oil prices.

John Kirby, White House National Security Council (NSC) Strategic Communications Coordinator, also emphasized in an interview with Fox News on the same day, "The American people are suffering greatly from gasoline prices at $5 per gallon," and said, "If everyone cooperates, we can lower the price by at least $1 per gallon."

Chairman Bezos also targeted Biden and the Biden administration in May, when Biden spoke about corporate tax issues being behind U.S. inflation. At that time, Bezos posted on social media, "The U.S. has already poured out more stimulus in a situation where inflation is severe, and only Senator Joe Manchin's opposition prevented the situation from worsening," adding, "Inflation is a regressive tax that causes the greatest harm to the poorest people." He further pointed out, "The wrong direction does not help the country."