Billionaire Jeff Bezos Slams Message of U.S. Pres. Joe Biden to Oil Companies
BILLIONAIRE JEFF BEZOS – The Amazon Founder reacted to the call of United States President Joe Biden for cheaper fuel costs.
Countries across the globe now are not only dealing with the impacts of the COVID-19 pandemic that cost millions of lives but as well as a global oil problem. The oil supply currently does not meet the high demand for the product in several nations.
Furthermore, the ongoing war between Russia and Ukraine is seen as a huge factor that triggers the global oil problem. Russia which is one of the oil sources of several nations invaded Ukraine and several companies have stopped their operation in the former to express their condemnation of such move.
Several oil reserves in Japan were previously released to help augment the global need for oil. Recently, U.S. President Joe Biden made a call on oil companies to drop the prices of fuel.
Biden emphasized that it is a time of war and global peril. He wants the oil companies to set oil prices that are reflective of their expenses.
Based on a report on ABS-CBN News, Billionaire Jeff Bezos who is one of the richest people in the United States reacted to the call of U.S. Pres. Joe Biden to oil companies. According to him, it is “either straight ahead misdirection or a deep misunderstanding of basic market dynamics”.
Oil companies previously stressed that their prices are based on the global market and these costs are subject to factors that are not within their control.
“Ouch. Inflation is far too important a problem for the White House to keep making statements like this,” billionaire Jeff Bezos said following the remarks of the U.S. President.
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