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On Saturday, Joe Biden found a new target to blame for rising gas prices. After spending months blaming Vladimir Putin and the oil companies, it was now time for gas stations to take a turn. The president unleashed a threatening statement, proclaiming this a “time of war and global peril,” demanding prices be lowered.
The economic ignorance on display was simply breathtaking.
My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril.
Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now.
— President Biden (@POTUS) July 2, 2022
You don’t have to be the President of the United States to understand that gas stations make very little off a gallon of gas. Their margins often come in at just a few cents, with them making most of their money on convenience store items. I thought that was common knowledge, but no assumption is safe when dealing with Biden.
Gas stations are also often locally owned, and even if they aren’t, they are at the mercy of the cost of supply. Contrary to the president’s attempt to make it seem like big corporations are colluding to raise prices, there is actually heavy competition that prevents such. It would be impossible for all the different owners of gas stations to secretly collude to keep prices high because there would always be one station willing to go down by five cents just a quarter-mile down the road.
Enter Jeff Bezos, the founder of Amazon and owner of The Washington Post. He jumped in to drag Biden for his comment.
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.
— Jeff Bezos (@JeffBezos) July 3, 2022
Bezos is obviously correct. You don’t bring down inflation by targeting businesses with government threats. That’s the stuff of third-world dictatorships, and it always leads to economic collapse. Rather, you bring inflation down by enacting reasonable monetary and spending policies, both things the Biden administration has refused to do. Now, the president wants someone to blame for his failures, and his buck-passing just comes across as pathetic and weak.
And yet, I’d caution Republicans to be very careful here. Jeff Bezos is not your friend. In fact, he’s one of the primary reasons Biden was elected, leading to the current economic crisis. Millions in donations and a DNC-dictated press outlet in The Washington Post had an impact on the 2020 election, even putting all other issues aside. Bezos could have done the smart thing, but being a Democrat, he helped push the country over the edge.
Only now that he may be financially affected by Biden’s disastrous decisions is he speaking out. Never trust a person who only speaks when it’s convenient. And while I know it’s tempting to cheer Bezos on because conservatives are often desperate for validation, I’d suggest looking elsewhere.
Many months ago, I penned a piece entitled “Big Business Sides With Joe Biden, and Republicans Better Not Forget.” At the time, it was in relation to unconstitutional private-sector vaccine mandates.
The tables will be turned eventually, though, and likely very soon if the political winds continue to blow right heading into 2022. When Republicans retake Congress, they should not forget those in corporate America who rushed to crush individual liberty by siding with Joe Biden. Republican governors and legislatures should also have a long memory. When those companies come calling for more subsidies, favorable regulations, and bail-outs, the answer should be simple – NO.
Well, I haven’t forgotten, and I hope Republican politicians haven’t either. These mega-corporations have spent years spitting in your face on a range of issues. They don’t get to change their tune the moment it’s time to keep Democrats from raising taxes. Bezos made his bed. He chose his friends. Now, he should be made to deal with the consequences of that.