FAST FIVE: Oil Billionaire Blasts Biden's Gas-Price Blame-Game, Says Only One Thing Will Fix Inflation

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Catsimatidis made the remarks in an interview on Fox News on June 24, after being asked to comment on Biden's call to gas station owners to “bring down the price you are charging at the pump to reflect the cost you are paying for the product.” “Do it now.

Your customers, the American people, they need relief now,” Biden said at a White House press conference on June 23, in which the president called for a federal gas tax holiday, urged oil companies to use their profits to boost refining capacity, and leaned on gas station owners to pass along lower crude oil prices by lowering prices at the pump.

'Ridiculous to Put It on Us' Catsimatidis reacted to Biden's remarks by defending gas station owners, arguing that they've been “making the same margin that we've been making forever” as they have to cover payroll and pay rent, electricity bills, and other operating expenses.

We've seen refineries being repurposed to become bio refineries.

“Open up the spigots.” “If we open up the spigots and flooded the market with oil, with crude oil, American crude oil, we bring the price of oil back” and “inflation goes away,” Catsimatidis said.

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