Biden Sells Oil

Biden sold 500,000 Barrels of oil from the US Strategic Petroleum Reserve to China-owned Gas Giant. Is Hunter getting a commission?

On March 31, 2022, President Biden reacted to the high price of gasoline by announcing he was going to sell 180 million barrels of oil from the US Strategic Petroleum Reserve. On the day of his announcement, the reserve had 568 million barrels of oil, and his decision to sell 180 million equaled 31% of the total reserve. 

The Biden administration claimed the move would "address the pain Americans are feeling at the pump" and "help lower energy cost." The administration didn't sell it to the American refiners, they sold over 500,000 barrels a day to China. 

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, commonly known as Sinopec, is wholly owned by the Chinese government.  

The story gets better. 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 entered negotiations to purchase Gazprom in March, one month after the Biden administration sanctioned the Russian gas giant. 

According to the US Energy Information Agency, China has purchased, on average, 581,000 barrels of oil a day from the United States through the end of April 2022. Daniel Turner, the Founder of “Power The Future,” an energy advocacy organization, 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." 

CNN anchor Victor Blackwell questioned Biden economic council director Brian Deese in late June. "What do you say to those families who say, ‘Listen, we can’t afford to pay $4.85 a gallon for months, if not years? This is just not sustainable’?” his answer was, "This is about the future of the liberal world order, and we have to stand firm." The American people have a problem with the liberal world order, which is not essential to them. More important is the fact that Americans feel the country is going in the wrong direction. 

An AP-NORC survey showed that 85% of US adults say that things in the country are headed in the wrong direction, with just 14% believing things are going in the right direction. That's a more pessimistic reading than in May when 78% said things were headed the wrong way and 21% that things were generally moving in the right direction. 

Currently, 92% of Republicans and 78% of Democrats are dissatisfied with the direction of the country – the highest number among Democrats since President Joe Biden took office last year.

In a June 2022 poll, Gallup asked this question. "What do you think is the country's most important problem today?" The answer is not surprising to us, but the President and his team seem to have no clue. Inflation was number 1, then the economy in general, and then poor government leadership. It is important to note that crime and violence were 8%. Race relations was 3%, racism was 3%, and the climate had 2%. It is interesting to note that abortion was 1%, and the situation with Russia was also at 1%. One final observation from the poll numbers is that less than 1% were concerned about police brutality. The category of Economic Problems has risen by 33% in terms of importance since February 2022 poll.

Yougov.com poll of June 2022 showed that only 16% of voters thought Congress was doing a good job. The New York Times asked a crucial question, "Are voters More Worried About the Country Than Themselves?" These are the surprising answers: 83% are worried or somewhat worried that the next generation will be worse off than them, 74% of Americans are worried to somewhat worried about losing democracy in America. 

This commentary started off with the sale of American oil assets to China when the President told us that he was selling the oil assets so it could bring down the price of gas and make it easier to deal with energy prices. It is surely a serious mistake selling our energy supply to perhaps our most significant threat, China. Hunter Biden and the President have deep relationships in China, both in the government and the private sector. 

Congress needs to look into the business relationships between the Chinese government and the Biden family for possible corruption. I believe that until we can replace the Democrats in both houses and the White House, the Bidens may get richer, and the country may continue to disappear.