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Biden Sold a Million Barrels From US Strategic Petroleum Reserve to China-Owned Gas Giant
freebeacon ^ | July 7, 2022 | Collin Anderson

Posted on 07/10/2022 5:50:59 AM PDT by MarvinStinson

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" once "shipments that have arrived in March and due to arrive in April" were fulfilled.

The White House did not return a request for comment. Its decision to sell barrels from the country's Strategic Petroleum Reserve to a Chinese conglomerate comes as the American public increasingly sours on Biden's energy policies. According to a January Gallup poll, roughly three in four Americans are not satisfied with the federal government's national energy policy, the highest level in roughly two decades.

Power the Future founder Daniel Turner admonished Biden for selling "raw materials to the Communist Chinese for them to use as they want."

"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. Sinopec went on to enter negotiations to purchase Gazprom in March, one month after the Biden administration sanctioned the Russian gas giant.

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.


TOPICS: Crime/Corruption; Government
KEYWORDS: biden; china; didyousearch; gas; gop; petroleum; rino
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Biden's Energy Department said move would 'support American consumers' and combat 'Putin's price hike'
1 posted on 07/10/2022 5:50:59 AM PDT by MarvinStinson
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To: MarvinStinson

The decrepit old fool owes the chicoms big time for their help in getting him elected. He is more than willing to sell out his country to repay them.


2 posted on 07/10/2022 5:54:36 AM PDT by I want the USA back (To get the USA back - we have to recover from the current wave of insanity.)
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To: MarvinStinson

Their statement fails logic 101…


3 posted on 07/10/2022 5:54:39 AM PDT by gov_bean_ counter (The Reset is real…)
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To: MarvinStinson

blatant


4 posted on 07/10/2022 5:55:21 AM PDT by nikos1121
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To: MarvinStinson

The USA was paid for the Gas but the Biden Crime Family and the Dems kept the money for themselves.


5 posted on 07/10/2022 5:55:30 AM PDT by chopperk
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To: MarvinStinson

If those clowns in the Brandon Administration knew how to laugh a little bit they would have filled the oil tanker with some “plant-based” Slurpee.


6 posted on 07/10/2022 5:58:29 AM PDT by FlingWingFlyer (First, they stole our elections. Then, they stole our country.)
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To: MarvinStinson

HOW MUCH damage is this doing to the US Military???


7 posted on 07/10/2022 5:58:37 AM PDT by ridesthemiles
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To: MarvinStinson

Hunter has ties with the Chinese company that the oil is going to.


8 posted on 07/10/2022 6:07:39 AM PDT by duckman ( Not tired of winning!)
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To: MarvinStinson

It’s not as if the chicoms would turn our strategic oil into something like diesel for their subs, or JP-8 - or whatever the Chicom equivalent is - for their fighters that are harassing Taiwan.


9 posted on 07/10/2022 6:07:47 AM PDT by Sirius Lee (They intend to murder us. Prep if you want to live and live like you are prepping for eternal life)
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To: MarvinStinson

Must’ve been a bigger bribe than normal.


10 posted on 07/10/2022 6:09:49 AM PDT by Libloather (Why do climate change hoax deniers live in mansions on the beach?)
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To: MarvinStinson

Where is Lizard Cheney on this?


11 posted on 07/10/2022 6:18:05 AM PDT by bray (The Vax is fake and deadly)
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To: MarvinStinson

The oil is going into China’s Strategic Petroleum Reserve so they can weather sanctions after they invade Taiwan. Biden is also lowering tariffs on Chinese goods so US companies are more reliant on China for trade.

Biden is giving China everything it needs to invade Taiwan.


12 posted on 07/10/2022 6:24:50 AM PDT by Erik Latranyi (We are being manipulated by forces that most do not see)
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To: MarvinStinson

And probably took a $20/barrel spiff on all of it.


13 posted on 07/10/2022 6:25:41 AM PDT by Attention Surplus Disorder (Apoplectic is where we want them)
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To: MarvinStinson

GOOGLE IS SUPPRESSING ANY STORIES AND BLOCKING ANY SEARCH REGARDING HUNTER BIDEN’S CONNECTION TO GOOGLE EXECS:

Hunter Biden’s hard drive contained an enviable lineup of contacts for top US officials tasked with overseeing the US-China relationship, and at least 10 senior Google executives — raising new questions about the extent to which Joe Biden’s well-connected son could have leveraged his connections for personal profit, The Post has learned.

https://nypost.com/2022/07/02/hunter-bidens-laptop-had-contacts-for-google-execs-us-officials-for-china-policy/


14 posted on 07/10/2022 6:33:13 AM PDT by KeyLargo
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To: MarvinStinson

So did he charge them $100/barrel or $20/barrel?


15 posted on 07/10/2022 6:36:58 AM PDT by antidemoncrat
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To: MarvinStinson

16 posted on 07/10/2022 6:54:25 AM PDT by MtnClimber (For photos of Colorado scenery and wildlife, click on my screen name for my FR home page.)
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To: duckman

“Hunter has ties with the Chinese company that the oil is going to.“

Yep.. and then the 10% to the “big guy”…

Our government is ripping US off to enrich themselves.

We are way past 1776…. But still, just watching..


17 posted on 07/10/2022 7:21:40 AM PDT by joethedrummer (We can't vote our way out of this, folks..)
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To: bray

Where is Lizard Cheney on this?

***********

Where is the GOP? AWOL as usual.

This clearly impeachable but the GOP won’t do squat about it, now or in the future.


18 posted on 07/10/2022 7:36:44 AM PDT by Starboard
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To: MarvinStinson

“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 article focuses on politics, but I’m curious as to how this can be legal. I’m not expecting answers, but here are some questions for consideration/research: What are the statutory purposes of the Strategic Petroleum Reserve? What are the lawful requirements for releasing from it? Did the oil literally go to China, or jut to a Chinese-owned oil trading company, who resold it in America?


19 posted on 07/10/2022 7:43:45 AM PDT by Chewbarkah
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To: MarvinStinson

So many grounds to impeach Biden. Actually there is enough with the Biden clan to put them in jail for racketeering.


20 posted on 07/10/2022 7:46:41 AM PDT by kenmcg (tHE WHOLE )
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