Oil industry group: White House ‘intern’ who tweeted about high gas prices should take economics lessons
An oil industry group criticized a tweet from President Biden’s account over the weekend calling on “companies that run gas stations” to cut their prices, saying that the intern who wrote the post should be registered in “Econ 101.”
The response comes from the American Oil and Gas Association, which has garnered 19,000 retweets and more than 90,000 likes, as the White House says it’s laser-focusing on lowering prices at the pump. The president has supported suspending the federal gas tax and is considering opening additional domestic drilling, although neither is expected to lower prices in the short term.
In his tweet on Saturday, Biden directly targeted companies that sell gas.
“My message to the companies that run gas stations and set prices at the pump is simple: This is a time of war and global danger,” Tweet said. “Reduce the price you charge at the pump to reflect the cost you pay for the product. And do it now.”
Biden’s call was met with a major backlash, with critics arguing that the tweet demonstrated a fundamental ignorance of market realities.
“Work on it, Mr. President.” The American Oil and Gas Association responded. “In the meantime – get a happy fourth and please make sure that the WH intern who posted this tweet scores for Econ 101 for the fall.”
Amazon founder Jeff Bezos Knocked Biden on TwitterHe writes, “Inflation is a very important problem for the White House to continue to make statements like this. It is either a direct misdirection or a profound misunderstanding of fundamental market dynamics.”
Administration officials have taken to Twitter and television to defend Biden’s comments.
White House Press Secretary Karen Jean-Pierre Reply to Bezos’ criticismNot surprisingly, the billionaire believes that “oil and gas companies using market power to drive record profits at the expense of the American people is the way our economy is supposed to function.”
The average gas price briefly topped $5 a gallon in June, but fell to an average of $4.80, according to AAA.
On top of putting pressure on gas stations to cut prices, Biden also criticized oil companies for taking big profits while prices are still near record levels.
Republicans have called on the Biden administration to increase drilling at home to reduce dependence on gas imports and theoretically stabilize the US market.
On Friday, the administration discussed whether to open additional oil drilling, but said it was developing a plan that could include up to 11 new offshore drilling contracts or none at all.
Another of the president’s proposals has been warmly received by Democrats, which is to suspend the federal gas tax, one of the few tools Biden has to directly influence prices for consumers at the pump.