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Republicans Want Answers on Sale of Strategic Petroleum Reserve to China

By Editor 1

 

‘“This transaction is even more troubling given that evidence continues to mount showing the Biden family peddled access to the highest levels of government to enrich themselves…’

After the U.S. Department of Energy sold oil from the U.S. Strategic Petroleum Reserve to a Chinese company linked to the president’s son’s investment firm, Congressional Republicans are demanding answers, and a nonprofit representing American energy workers is calling for a special investigation.

Nineteen members of the House Committee on Oversight and Reform sent a letter to Energy Secretary Jennifer Granholm asking why the DOE sold nearly 1 million barrels of oil from the SPR to Unipec America, the American subsidiary of a Chinese company, Sinopec.

The private equity firm, BHR Partners, founded by the president’s son, Hunter Biden, invested $1.7 billion in Sinopec in 2015, the lawmakers note.

“The decision to sell to Unipec raises questions about why the Biden Administration is selling oil from the SPR to China, especially when the sale may enrich Hunter Biden, the President’s son,” they write. “This transaction is even more troubling given that evidence continues to mount showing the Biden family peddled access to the highest levels of government to enrich themselves.”

 

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