July 8, 2022

Biden Sends US Oil Reserves to China

  • Executive

By: Ophelia Garrett

In Brief: 

The Biden administration sold nearly one million barrels of oil from the United States’ strategic reserve to a Chinese company in which one of Hunter Biden’s equity firms formerly owned a $1.7 billion stake.

The purpose of the Strategic Petroleum Reserve (SPR), owned by the U.S. Department of Energy, is to store approximately 700 million barrels of oil in the event of an emergency or disruption.


The Background:

“Nearly one million barrels of the oil released by Biden’s order made its way to a Chinese company connected to the president’s son, Hunter Biden,” the Daily Wire reported. Chinese-owned company Sinopec, which has an American branch called Unipec, received close to one million barrels of oil from the U.S. strategic reserves in a sale with the U.S. government, The Washington Free Beacon pointed out on Thursday.
 
“The Biden Administration sent critical resources to the communist Chinese, including one firm which has the president’s own son Hunter as an investor, at the same time Americans are struggling at the pump,” stated Daniel Turner, executive director of the energy advocate group Power The Future. “A special prosecutor should be appointed and Congress needs to investigate because the American people deserve the truth and they’re not getting it from the White House.”
 
President Biden places the blame upon the companies running American gas stations. 

On Sunday, Biden tweeted:
“My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril. Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now.”

Apparently this was a bit too far for the U.S. Oil and Gas Association. They tweeted back:

“Working on it, Mr. President, In the meantime – have a Happy 4th and please make sure the WH intern who posted this tweet registers for Econ 101 for the fall semester.”

They continued: “The U.S. Capitol has the inscription: ‘Let us develop the resources of our land, call forth its powers, build up its institutions, promote all its great interests and see whether we also in our day and generation may not perform something worthy to be remembered.’ – Daniel Webster.”

Despite Biden’s plummeting approval among Americans, he is keeping one campaign promise: 
 
His vow to sacrifice the energy boom, low prices, and even jobs, for the sake of his green agenda. 

Although, it is unclear how shipping oil across the world is greener than processing it closer to home. 

During a press conference, Press Secretary Karine Jean-Pierre was asked about the U.S. oil making its way around the world.  However, she claims she was not aware of the matter and that she “would look into it.”

Notable Quotes:
“I don’t understand why we aren’t having a ban on exports,
I do think we have to be doing more. People in my district – they’re talking to me about gas prices, they’re talking to me about higher food prices, they’re talking to me about the airlines getting canceled. … Those are the issues front and center.” — Rep. Ro Khanna (D-CA)

What do you think?
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