Biden Sold a Million Barrels From US Strategic Petroleum Reserve to China-Owned Gas Giant

[Ubiquitous]

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, 銑isten, 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.

--
Let's go Brandon!