On Wednesday, Reuters revealed that more than 5 million barrels of oil from the US 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 were 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, it was revealed that the Biden administration sold over a million barrels of oil from the Strategic Petroleum Reserve to a Chinese state-owned company Sinopec. The US Energy Department claims that the action will help American consumers and offset “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.”
Meanwhile, Biden’s Energy Department has refused requests made under the Freedom of Information Act searching the administration’s improper use of the nation’s strategic oil reserves maintained for emergencies. Last week, the Functional Government Initiative, a government watchdog, filed a lawsuit to compel records concerning administration officials’ decision to tap the oil reserves in the absence of a sudden disruption in supply such as a hurricane or cyberattack.
By the end of Biden’s latest release from the emergency stockpile, the president will have depleted 260 million barrels from the nation’s reserves. In May, the Department of Energy announced efforts to replenish only 60 million barrels of what’s been released, despite an authorized storage capacity of 714 million barrels. The Energy Information Administration reported that just more than 492,000 barrels remained in storage on July 1, exactly one month into the six-month hurricane season.
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Connection of Bidens with China
The Bidens and Sinopec have an older relationship. The private equity company BHR Partners was co-founded in 2013 by Hunter Biden, son of Joe Biden. BHR purchased a $1.7 billion stake in Sinopec Marketing in 2015. In 2017, Biden purchased a 10 percent stake in BHR through an LLC named Skaneateles, in which he is a lone owner.
Hunter Biden’s lawyer said last year that Hunter no longer holds any direct or indirect equity stake in either BHR or Skaneateles. According to information from China’s National Credit Info cessation Publicity System, Skaneateles still owned 10% of BHR as recently as March. On company records in Washington, D.C., Hunter was still listed as the sole proprietor of Skaneateles at the time. The Chinese records may have been accurate or they may have needed to be corrected, but it is unclear. A number of US publications have been questioning the relationships of the Biden family with Chinese companies.
This is not the first time Joe Biden has been accused of having a conflict of interest because of his son Hunter Biden’s actions. Earlier this year, Iowa and Wisconsin senators disclosed bank documents revealing that Hunter Biden was paid by a corporation with ties to the Chinese Communist Party. Senators Chuck Grassley and Ron Johnson delivered the necessary records on the House floor on March 28th and 29th, 2022.
Hunter Biden is already being investigated by the FBI for his financial transactions. According to a 2020 investigation, Hunter Biden has contacts with Chinese persons associated with the Chinese regime. Ye Jianming is one of the men with whom Hunter supposedly had business. Ye Jianming is a Chinese oil magnate who created CEFC and has not been seen since 2018.
Furthermore, Hunter Biden is facing several accusations of probable tax evasion, money laundering, and lobbying for foreign corporations. Hunter Biden’s old laptop sparked outrage as photos and emails tying him to Ukrainian gas giant Burisma got exposed. Russia had shared on March 25, 2022, that Hunter Biden and his investment company Rosemont Seneca had sponsored the Pentagon’s bioweapons research in Ukraine
