Biden Sold a Million Barrels From US Strategic Petroleum Reserve to China-Owned Gas Giant

[Hoodat]

Biden Sold a Million Barrels From US Strategic Petroleum Reserve to China-Owned Gas Giant

Biden's Energy Department said move would 'support American consumers' and combat 'Putin's price hike'

Collin Anderson   •   July 7, 2022 4:22 pm

The Biden administration sold roughly one million barrels from the Strategic Petroleum Reserve to a Chinese state-controlled gas giant that continues to purchase Russian oil, a move the Energy Department said would "support American consumers" and combat "Putin's price hike."

Biden's Energy Department in April announced the sale of 950,000 Strategic Petroleum Reserve barrels to Unipec, the trading arm of the China Petrochemical Corporation. That company, which is commonly known as Sinopec, is wholly owned by the Chinese government. The Biden administration claimed the move would "address the pain Americans are feeling at the pump" and "help lower energy costs." More than five million barrels of oil released from the U.S. emergency reserves, however, were sent overseas last month, according to a Wednesday Reuters report. At least one shipment of American crude went to China, the report said.

The Biden administration also claimed the Unipec sale would "support American consumers and the global economy in response to Vladimir Putin's war of choice against Ukraine" and combat "Putin's price hike." But as the war rages on, Unipec has continued to purchase Russian oil. In May, for example, 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"  .  .  .

.  .  .  "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's son, Hunter Biden, is tied to Sinopec. In 2015, a private equity firm he cofounded bought a $1.7 billion stake in Sinopec Marketing.  .  .

https://freebeacon.com/national-security/biden-sold-a-million-barrels-from-us-strategic-petroleum-reserve-to-china-owned-gas-giant/


Institutionalized corruption.  It never stops.

[ironhorsedriver]

And the Dems will turn a blind eye to it.

[Kamaji]

I’m sure the oil was sold at a sweetheart price, so Hunter gets some of the vigorish. 

[mystery-ak]

Report: Joe Biden Sold Nearly One Million Barrels from U.S. Strategic Petroleum Reserve to CCP-Owned Oil Company Linked to Hunter Biden Firm

Jordan Dixon-Hamilton 7 Jul 2022

President Joe Biden’s administration 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 cofounded by Hunter Biden, according to a Washington Free Beacon report.

In April, Biden’s Department of Energy announced the nearly one million barrel sale to Unipec, which is the trading arm of Sinopec. Sinopec is wholly owned and operated by the Chinese Communist Party.

Unipec reportedly purchases oil across the globe and then apparently sells it through its Sinopec Marketing subsidiary.

According to Unipec’s LinkedIn page:

UNIPEC America, Inc. is a wholly owned subsidiary of China International United Petroleum and Chemical Co. Ltd., better known as UNIPEC. UNIPEC is the trading arm of SINOPEC, currently No.2 largest company on the Global Fortune 500 list in 2019.

Biden’s son, Hunter Biden, reportedly has financial ties to the CCP-owned Sinopec. A private equity firm Hunter Biden cofounded reportedly purchased a nearly $2 billion stake in Sinopec Marketing in 2015.

As the Free Beacon reported:

Biden is connected to Sinopec through BHR Partners, a private equity firm he cofounded 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.

more
https://www.breitbart.com/politics/2022/07/07/report-joe-biden-sold-nearly-one-million-barrels-from-u-s-strategic-petroleum-reserve-to-ccp-owned-oil-company-linked-to-hunter-biden-firm/

[mountaineer]

Biden Sold Oil From Emergency Reserves To Chinese Gas Giant Tied To His Scandal-Plagued Son
By: Tristan Justice
July 08, 2022

... “The Biden administration sold roughly one million barrels from the Strategic Petroleum Reserve to a Chinese state-controlled gas giant that continues to purchase Russian oil, a move the Energy Department said would ‘support American consumers’ and combat ‘Putin’s price hike,'” the Beacon’s Collin Anderson reported. “Biden’s Energy Department in April announced the sale of 950,000 Strategic Petroleum Reserve barrels to Unipec, the trading arm of the China Petrochemical Corporation. That company, which is commonly known as Sinopec, is wholly owned by the Chinese government.”

Sinopec is also tied to Hunter Biden, whose private equity firm, BHR Partners, bought a $1.7 billion stake in the company seven years ago.   ...

Meanwhile, Biden’s Energy Department has refused compliance with requests under the Freedom of Information Act probing the administration’s improper use of the nation’s strategic oil reserves maintained for emergencies.    ...

The Federalist

[mystery-ak]

This is clearly an impeachable offense.....unbelievable!

[mountaineer]

This is clearly an impeachable offense.....unbelievable!

https://twitter.com/NewsNancy9/status/1545056163527503873

[mountaineer]

See also this thread: https://www.gopbriefingroom.com/index.php/topic,474516.0.html (before we knew Hunter was benefiting from the sale)

[mystery-ak]

Biden Sold Oil From Emergency Reserves To Chinese Gas Giant Tied To His Scandal-Plagued Son
By: Tristan Justice
July 08, 2022

On Wednesday, Reuters revealed that more than 5 million barrels of oil from the nation’s Strategic Petroleum Reserves were sent overseas as part of President Joe Biden’s latest release initiated in March.

Some of that oil went to India, some to the Netherlands, and some was sent to China where the president’s son has engaged in years of potentially criminal business activity embroiling the Biden White House in scandal since the 2020 campaign.

On Thursday, the Washington Free Beacon published new details about the Chinese oil shipments from the U.S. emergency reserves that Biden promised were tapped to “ease the pain that families are feeling” in the United States from high energy prices.

“The Biden administration sold roughly one million barrels from the Strategic Petroleum Reserve to a Chinese state-controlled gas giant that continues to purchase Russian oil, a move the Energy Department said would ‘support American consumers’ and combat ‘Putin’s price hike,'” the Beacon’s Collin Anderson reported. “Biden’s Energy Department in April announced the sale of 950,000 Strategic Petroleum Reserve barrels to Unipec, the trading arm of the China Petrochemical Corporation. That company, which is commonly known as Sinopec, is wholly owned by the Chinese government.”

Sinopec is also tied to Hunter Biden, whose private equity firm, BHR Partners, bought a $1.7 billion stake in the company seven years ago.

Hunter Biden’s lawyer told the New York Times in November that the president’s son, “no longer holds any interest, directly or indirectly, in either BHR or Skaneateles.”

According to the Washington Examiner, however, Hunter Biden remained listed as a part-owner of the firm as late as March.

more
https://thefederalist.com/2022/07/08/biden-sold-oil-from-emergency-reserves-to-chinese-gas-giant-tied-to-his-scandal-plagued-son/

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Topics merged.