Joe Biden asks businessmen to lower gasoline prices; Jeff Bezos launches criticism

Joe Biden asks businessmen to lower gasoline prices;  Jeff Bezos launches criticism

The president of the United States, Joe Biden, asked businessmen, through Twitter, to lower the price of gasoline, words that Jeff Bezos did not like at all.

“This is a time of war and global danger”Joe Biden wrote last weekend through his Twitter account and later made a request to businessmen: lower the price of gasoline.

More than four months have passed since that February 24, the date on which Russia’s invasion of Ukraine began, giving rise to one of the most worrying armed conflicts of the last 30 years, according to some specialists.

To date, according to official figures, the conflict has left at least 47,000 dead, more than 400 people reported missing and more than 15 million displaced.

Of course, in all these months, the consequences are beginning to be felt in various parts of the world, such as the increase in gasoline prices.

Just to mention an example, data from the OECD (Organization for Economic Co-operation and Development) and GlobalPetrolPrices.com, Americans had to pay 1.2 percent of the country’s median monthly wage for 60 liters (approximately 16 gallons) of gasoline at the pump. Canada, for its part, is in the same range with 1.9 percent and Mexico registers one of the highest percentages of the average monthly income needed to fill a 60-liter or 16-gallon tank, with 4.8 percent. hundred.

Jeff Bezos criticizes Joe Biden for asking businessmen to lower gasoline prices

Last weekend, the rise in gasoline prices reached the twitter of the US president, Joe Biden, who, from the comfort of his social network, called on businessmen asking that, in these “times of war” lower fuel prices

“My message to the companies that run gas stations and set prices at gas stations is simple: This is a time of war and global danger. Reduce the price you are charging at the pump to reflect the cost you are paying for the product. Do it now,” Biden wrote.

The words of the President of the United States reached the founder of the giant Amazon, Jeff Bezos, who, also through Twitter, decided to respond to Biden’s tweet, launching a harsh criticism:

“Ouch. Inflation is too big an issue for the White House to keep making statements like this. It’s either a direct oversight or a profound misunderstanding of the basic dynamics of the market,” Bezos responded.

for now, AAA data reveals that the average price of gasoline is located at 4,812 dollarsvery close to the record high of $5,016 reached last month.

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In the midst of a critical international panorama in all industries, after the health crisis, crude oil production experienced a drop of -6.1 percent worldwide.

Data from Enerdata assure that, in 2020, the production of crude oil in the United States contracted by 3.4 percent; however, it produced 42 percent more oil, which represents 17 percent of world production in the same year. On the Russian side, production fell by 8.6 percenta considerably larger amount when compared to the contraction in the United States.

On the other hand, in Mexicooil production has been declining for many years. According to the Energy Sector Intelligence Observatory (OISE), until 2019, Mexico ranked twelfth in the world in its oil capacity.

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