US President Joe Biden reacted to Friday’s report on the consumer price index, which revealed continuing high inflation, promising that fighting inflation is his “top economic priority”, while blaming continuing high prices for Russia’s unprovoked invasion of Ukraine.
“Even as we continue to work to protect freedom in Ukraine, we need to do more – and quickly – to lower prices here in the United States,” Biden said in a statement.
After publishing the statement, Biden made remarks in the port of Los Angeles, where he paused a regional summit to deal with inflation.
“Even as we continue to work to protect freedom in Ukraine, we need to do more – and quickly – to lower prices here in the United States,” Biden said in a statement.
“Today’s inflation report confirms what Americans already know. Putin’s rising prices are hitting Americans hard,” he said.
Biden used a similar language in a published statement:
“Putin’s rise in prices hit hard in May here and around the world: high gas prices, energy and food prices account for about half of the monthly price increases, and gas pump prices have risen by $ 2 a gallon. “Many places have since begun to threaten Ukraine,” the statement said.
He also called on the oil and gas companies in the statement and urged them not to take “excessive profits”.
“Pump prices are a major part of inflation and the war in Ukraine is the main reason for this. The United States is on track to produce a record amount of oil next year, and I’m working with the industry to speed that up. But it’s also important that the country’s oil and gas and refining industries don’t take advantage of the challenge posed by the war in Ukraine. a reason to make things worse for families with excessive profits or price increases, “Biden said in a statement.
And after concluding his speech in Los Angeles, Biden harassed major US oil companies for failing to help lower the price of gas.
“We will make sure everyone knows Exxon’s profits,” he said. “Exxon made more money than God last year,” he said.
He criticized the companies for not using the thousands of acres of land where they already have leases to extract more oil.
“They don’t break through,” he said. “Why not [they] drilling? Because they make more money, not more oil. The price is rising, number one. And number two, the reason they don’t break through is because they buy back their own shares, buy back their own shares and don’t make new investments. “
Biden also asked Congress to pass legislation to help Americans struggle with higher prices.
“I urge Congress to pass a bill to reduce shipping costs this month and send it to my desk so we can reduce the price of goods,” Biden said in a statement.
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