WASHINGTON, DC—U.S. Representative John Rose (TN-6) spoke on the House Floor this week following recent comments from President Biden surrounding prices at the pump.
The full speech, as prepared for delivery, is below:
Madam Speaker, on July 2nd, the President of the United States sent out this message to small business owners across America: “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.”
When I first read the message, I was perplexed. After all, the president should know that gas stations already offer their fuel at a price just slightly above what they buy from wholesalers. There is basically no room for cost savings at this final step in the supply chain. In fact, most gas stations make their money on what is sold in the convenience store and not at the gas pump.
This ill-advised message does nothing to help solve the problem, but only confuses and angers the small business owners who own gas stations and convenience stores. Even billionaire Jeff Bezos, called out the White House, saying that: “Inflation is far too important of 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.”
I agree with Mr. Bezos. This is far too important of an issue for the White House to keep misleading the American people.
Bottom line: the president needs to take this issue more seriously and stop pointing the blame at others. First, it was Russia, then it was the oil companies, and now it’s the gas stations? It’s only a matter of time until the president finds a way to blame this on Republicans. Ultimately, the buck stops at the White House, and the president must take responsibility for his anti-energy policies that have made it more difficult to explore and drill for oil.
You can watch the full speech here.
Original source can be found here.
