Posted on 07/26/2022 9:04:31 PM PDT by george76
Biden has released millions of barrels of oil from the country’s strategic oil reserves. While the oil has been released to stabilize global energy markets and lower the prices of gas, of late the oil reserve release has been controversial. The U.S. sold some oil to China’s Sinopec, which has been connected to Hunter Biden in the past.
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180 million barrels of oil are to be released, which makes it the biggest drawdown on the strategic oil reserves in history.
The U.S sold oil to a subsidiary of Sinopec.
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Unipec America was also awarded 0.95 million barrels of oil. ... Here it's worth noting that Unipec is the trading arm of Chinese state-run energy giant Sinopec.
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Hunter Biden’s connection with Sinopec. However, the story starts to get a little complex when we add the Hunter Biden connection. Hunter was associated with a company called BHR Partners, which held a stake in Sinopec. BHR also briefly held a stake in Chinese ride-hailing company DiDi which listed on the U.S. markets in 2021 but is now delisting under pressure from the Chinese government.
Sinopec has ties with the Chinese government and BHR Partners was registered a few weeks after Hunter accompanied his father when the latter was on an official visit to China in 2012 as the U.S. vice president. Former President Donald Trump also questioned Hunter’s business dealings with China.
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Hunter’s dealings with CEFC China Energy have also been under a scanner. It was one of his most lucrative contracts with a foreign company where he earned millions of dollars.
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What’s the controversy over the U.S. selling oil to a Chinese company? There are two aspects to the U.S. selling oil to Sinopec. First, many are questioning selling the strategic oil reserves to China since the oil was meant to ease supplies for U.S. refineries.
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The other side of the controversy is related to Hunter’s connection with Sinopec. In November 2021, his attorney Chris Clark told The New York Times that Hunter “no longer holds any interest, directly or indirectly, in either BHR or Skaneateles.”
However, in March, the Washington Examiner found that China's National Credit Information Publicity System still lists Skaneateles, which is owned by Hunter, as owning a 10 percent stake in BHR Partners.
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Biden is also looking to waive some tariffs on China. Easing tariffs and Hunter’s connection with Sinopec are only fueling conspiracy theories about the Biden family’s ties to China.
Draining the US of its wealth and making it a subservient nation to the socialist world is the goal of the new Democrat Communist party. Their hatred of the US and its people is so self-evident!
The bribes given to Hunter are being repaid right before our eyes. With this administration, the media is more inclined to hide corruption than to expose it. I know of no time in our history when the media abetted political crimes.
China is putting most of the oil into its strategic petroleum reserve instead of into the market.
The Chinese are strengthening up before they invade Taiwan...and Biden is helping them with oil and lowering tariffs on Chinese-made goods.
I would think selling our oil reserves to anyone would be treason. I thought those reserves were for our country in times of disaster or when there are shortages. Now Biden is “selling” it to China? Wow. And they think Trump is corrupt and a criminal?
Yes, the reserves are for disaster or shortages, not to prop up a failing politician.
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