After releasing a million barrels of oil per day from America’s strategic oil reserve, Joe Biden sold a large portion to a Chinese company linked to his son’s private equity firm.
This not a loose connection either, Hunter’s equity firm had a $1.7 billion stake in the Chinese gas giant ‘Sinopec’ that acquired 950,000 barrels of American oil meant to mitigate prices at home.
In total 5 million barrels from the strategic reserve had been sent abroad rather than consumed domestically.
We know that 7 years ago Hunter Biden’s firm had a $1.7 billion stake in Sinopec but it’s unclear if the stake still stands. Republicans have been wholly unable to acquire legal and financial documents regarding the Presidents son from the treasury department.
The Treasury Department told Republican representatives that they’ll only provide the requested investigation documents if Democrats are on board. This essentially eliminated party checks and balances.
Hunter’s lawyers did say in November that he no longer holds a stake in Sinopec but this easily could have been a lie. It’s also worth noting that just because Hunter doesn’t have a stake in the company, it doesn’t mean he isn’t connected.
As Jesse Waters noted, Hunter is not an economist, he isn’t an oil expert. He likely served one purpose in his relationship with Sinopec: to gain influence on Capitol Hill through his father – a well-known career politician.