Amid Energy Crisis, Biden Sold Oil to a Chinese Company Partially Owned by His Son
As the country struggled with rising gas prices, America’s emergency oil was sold to an adversary.
Editorial Team
July 08, 2022
To lower gas prices, President Joe Biden has been depleting 260 million barrels of oil from the nation’s emergency Strategic Petroleum Reserve. It’s the largest-ever release from the stockpile. The plan—which didn’t do much to lower gas prices—could become Biden’s largest scandal.
Over 5 million barrels went overseas. We’re talking China. About one million barrels from the reserve were sold to a Chinese state-controlled gas company called Unipec.
Hunter Biden is tied to the Chinese company that benefited from the sale. Unipec is part of Sinopec, where Hunter Biden’s equity firm bought a $1.7 billion stake years ago. Hunter’s lawyer says he no longer holds any stake in the company, but he’s still listed as part-owner of the firm as of March. When asked, the White House Press Secretary had no explanation.
The angles of the scandal:
The first. To lower gas prices, Biden depleted America’s oil reserve for emergencies. Releasing the oil hasn’t lowered gas prices but has compromised the country’s ability to manage the incoming energy crisis.
The second. Amid the energy crisis, America’s emergency oil was sold to an adversary.
The third. Amid the energy crisis, America’s emergency oil was sold to a firm with which the President’s son could still be involved with.
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