President Biden once again shirked any responsibility for skyrocketing gas prices and instead demanded that gas stations cut prices at the pump for drivers despite their costs to stay in business being dictated by the market.
(Video Credit: CBS News)
His flawed economic reasoning is that oil prices are dropping. Oil prices are not the only factor in the price of a gallon of gasoline. Taxation and crushing regulation as well as progressive policies have a lot to do with it. It’s almost as if Biden and the left want to drive gas stations out of business.
In a meeting with economic aides on Monday, Biden excoriated gas stations, referring to crude prices falling sharply in August. He contended that despite that fact, it has taken a “long time” for the drop in price to trickle down to American drivers.
“We haven’t seen the lower prices reflected at the pump though. Meanwhile, oil and gas companies are still making record profits — billions of dollars in profit,” the president claimed, once again blaming oil and gas entities while giving cover to leftists who are deliberately destroying them.
“My message is simple. To the companies running gas stations and setting those prices at the pump: Bring down the prices you’re charging at the pump to reflect the cost you pay for the product,” he disingenuously stated.
Joe Biden demands gas station owners lower prices for gas. Does he not understand that gas stations make a penny or two on each gallon? Gas stations make their money on items bought inside. This is just an embarrassing lack of basic business knowledge. pic.twitter.com/rAcPChyvUX
— Clay Travis (@ClayTravis) September 27, 2022
Joe Biden’s strategy to bring gas prices down is to mindlessly yell at gas stations on camera.
We need an actual plan, not just a guy yelling at a camera!
— Lauren Boebert (@laurenboebert) September 26, 2022
“Do it now,” Biden ordered referring to gas stations slashing prices. “Do it now. Not a month from now — do it now. And it’s going to save people a lot of money.”
Bob Bilbruck, CEO of business strategy firm Captjur, told the New York Post in an interview that the president was “way off base.”
“I grew up in the convenience store gas station business,” he asserted. “Margins are razor-thin in these operations and depending on their relationship in the buying ecosystem, they may be buying from a bulk fueler or directly from the producer [so] we are talking very little difference in prices.”
He also noted that since gas stations exist on small margins, they’re under “constant competitive pressures from the station next door to keep their prices competitive.”
Yesterday, Joe Biden told gas stations to bring down the cost of fuel 'now.'
The last time I checked, mom and pop gas stations didn't lay off 11,000 Keystone XL pipeline workers.
— Kimberly Guilfoyle (@kimguilfoyle) September 27, 2022
Gas prices under the Biden administration have been the highest in U.S. history.
Pass it on.
— Congressman Cliff Bentz (@RepBentz) September 26, 2022
“This is simple supply and demand,” Bilbruck said in the interview. “You have less drilling going on and less oil and gas being refined — prices go up.”
“It’s basic economics — if Biden wanted to make a true impact and get costs down for the consumer, there are many things he could do,” he claimed.
Bilbruck was only one of many free-market advocates who took exception to Biden’s socialistic comments.
Once again, Joe Biden is demanding energy companies lower the price of gas.
How does Biden not understand his decision to cancel new oil and gas leases has caused prices at the pump to increase?
— Sen. Marsha Blackburn (@MarshaBlackburn) September 27, 2022
Biden has been releasing the strategic petroleum reserves for months to try to lower gas prices before the election. Watch the prices when he starts refilling them AFTER the election, when he doesn’t need your vote for another two years.
— John Hawkins (@johnhawkinsrwn) September 27, 2022
“Having the president of the country pressuring private companies into cutting profit is not a good look at best,” geopolitical analyst Irina Tsukerman, who heads Scarab Rising, told the New York Post. “These comments indicate that Biden is avoiding responsibility for his own contribution to the price crisis — the policies that have driven up the gas prices to begin with, failure to allow for leases on federal land, the shutdown of pipeline projects, the gas tax hike, among others.”
The average cost of a gallon of gas was $3.75 nationwide on Tuesday. That is 17 percent higher than it was a year ago, according to the New York Post. The Biden administration has been crowing that gas prices have dropped since mid-June after they shot up to $5.02 a gallon.
Gas prices are reflective of global oil prices and crude trends. They have been slumping since mid-June on escalating fears of a global recession that would reduce demand for energy.
Get the latest BPR news delivered free to your inbox daily. SIGN UP HERE
DONATE TO BIZPAC REVIEW
Please help us! If you are fed up with letting radical big tech execs, phony fact-checkers, tyrannical liberals and a lying mainstream media have unprecedented power over your news please consider making a donation to BPR to help us fight them. Now is the time. Truth has never been more critical!
- ‘We love Trump!’ Listen to cheering union workers greet Trump in NYC. Does he have a shot at winning the state? - April 25, 2024
- Walmart begins nixing self-checkouts and returning to ‘traditional’ lanes – here’s why - April 24, 2024
- ‘A real failure’: DeSantis slams Johnson, GOP House, says they ‘capitulated entirely on the border’ - April 24, 2024
Comment
We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.
BPR INSIDER COMMENTS
Scroll down for non-member comments or join our insider conversations by becoming a member. We'd love to have you!
