President Biden tells companies that “operate gas stations” to “lower” their prices because “this is a time of war and global danger.” “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,” Biden wrote on Saturday. “Reduce the price you charge at the pump to reflect the cost you pay for the product. And do it now.” His tweet also garnered support from Chinese state media, with China Daily EU Bureau Chief Chen Weihua responding that Biden “finally realized that capitalism is the only thing about exploitation.” Biden’s tweet comes as natural gas prices average $4,822 nationally, up more than 20 cents from just a month ago. BIDEN ADMINISTRATION UNVEILS OIL AND GAS DRILLING PLANS, REVEALING TRUMP ERA CONTEXT President Biden tells companies that “run gas stations” to “lower” their prices because “this is a time of war and global danger.” (Kent Nishimura/Los Angeles Times via Getty Images/Getty Images) He has often deflected blame for rising gas prices onto Russian President Vladimir Putin, calling it the “Putin Price Surge,” a term repeatedly used by the White House despite his campaign promise to always take responsibility and not to blame others. It’s not the first time Biden has made a direct appeal to “companies that operate gas stations,” saying in a June 22 speech that “these are not normal times.” “Well, let’s be honest with each other. My message is simple. To the companies that run gas stations and set these prices at the pump: This is a time of war, global danger, Ukraine. These are not normal times,” Biden said. “Reduce the price you charge at the pump to reflect the cost you pay for the product. Do it now. Do it today. Your customers, the American people, need relief now.” WHITE HOUSE REFUSES CLAIMS BIDEN ‘TELLS’ US OIL INDUSTRY: ‘THIS IS NOT PERSONAL’ These are the gas prices at a pump at a Sheetz store in Sewickley, Pa., Monday, March 7, 2022. (AP Photo/Gene J. Puskar/AP Newsroom) Biden’s call follows a failed proposal from the Oval Office to implement a 90-day gas tax holiday that was dismissed as outlandish even by Democratic lawmakers. “I don’t know that we have the votes,” Majority Leader Steny Hoyer, D-Md., said, according to E&E news. “Suspending the main way we pay for infrastructure on our roads is a short-sighted and ineffective way to provide relief,” said Sen. Tom Carper, D-Del. GET THE FOX BUSINESS ON THE GO BY CLICKING HERE Rep. Peter DeFazio, D-Ore., said the proposal is “short-sighted” and “relies on the cooperation of oil companies to pass on minimal savings to consumers.” Gas stations actually make very little money per gallon of gas sold. Studies show that gas stations make about 15 cents per gallon before expenses and about 5 cents per gallon after expenses are included. They sell gasoline to attract customers to buy snacks, drinks and other higher profit products. States and the federal government tax each gallon of natural gas at rates much higher than the profits gas stations make at the pump, with California taxing natural gas at the highest rate in the nation — just over 59 cents per gallon after the state raised July 1 tax.
