by WorldTribune Staff, July 8, 2022
Team Biden sold 950,000 barrels of oil from the U.S. Strategic Petroleum Reserve to a Chinese state-owned gas company that has financial ties to a private equity firm co-founded by Hunter Biden, a report said.
Biden’s Energy Department in April announced the sale to Unipec. Unipiec is the trading arm of the China Petrochemical Corporation which is commonly known as Sinopec, which is wholly owned by the Chinese government, the Washington Free Beacon reported on July 7.
Hunter Biden is tied to Sinopec.
As the Free Beacon reported: “Biden is connected to Sinopec through BHR Partners, a private equity firm he co-founded in 2013. BHR bought a $1.7 billion stake in Sinopec Marketing in 2015. Biden at one point owned a 10 percent stake in BHR Partners through his wholly owned firm, Skaneateles, LLC.”
Biden’s White House has repeatedly claimed that Hunter Biden was out of the equity firm, but Chinese corporate records show he still has a stake in the company.
Related: Biden-linked Sinopec sets fracking records . . . in China, December 10, 2021
Sinopec went on to enter negotiations to purchase Gazprom in March, one month after the Biden administration sanctioned the Russian gas giant.
The Biden administration claimed the sale of oil from the U.S. strategic reserve to a state-owned company in China would combat “Putin’s price hike” and “address the pain Americans are feeling at the pump.”
More than five million barrels of oil released from the U.S. emergency reserves were sent overseas last month, according to a July 6 Reuters report. At least one shipment of American crude went to China, the report said.
Meanwhile, Unipec has continued to purchase Russian oil. In May, the company “significantly increased the number of hired tankers to ship a key crude from eastern Russia,” Bloomberg reported. That decision came roughly one month after Unipec said it would purchase “no more Russian oil going forward” once “shipments that have arrived in March and due to arrive in April” were fulfilled.
Power the Future founder Daniel Turner slammed Team Biden for selling “raw materials to the Communist Chinese for them to use as they want.”
Related: Top Biden economic adviser passionate about ‘Liberal World Order’, not America, July 5, 2022
“We were assured Biden was releasing this oil to America so it could be refined for gasoline to drive down prices at the pump. So right off the bat, they’re just lying to the American people,” Turner told the Washington Free Beacon. “What they’re saying they did and what they did are not remotely related.”
Turner also said the decision highlights the Biden family’s “relationship with China.”
Biden campaigned heavily against the oil and gas industry in 2020, promising to “end fossil fuel.” He went on to cancel the Keystone XL pipeline and implement a moratorium on new gas leases on federal land during his first month in office. Biden’s energy secretary, meanwhile, is working with left-wing activists who want to eliminate fossil fuels, and in late October, House Oversight and Reform Committee Democrats pushed top oil executives to produce less gas due to climate change.
Gas prices have since soared to record highs. In mid June, the national average for a gallon of gas surpassed $5 for the first time ever. Still, the White House has assured Americans that they need to pay high gas prices to support the “liberal world order.”
“What do you say to those families that say, ‘Listen, we can’t afford to pay $4.85 a gallon for months, if not years?'” CNN anchor Victor Blackwell asked Biden economic adviser Brian Deese in late June. “This is about the future of the liberal world order and we have to stand firm,” Deese responded.