As many American families are struggling with record-high gas prices in Biden’s economy, the Energy Department announced in March that it was releasing 30 million barrels of crude oil out of the U.S. Strategic Petroleum Reserve (SPR) in an attempt to cool prices.
However, a huge portion of that release was sent to China in a deal with a CCP-owned energy company that Joe Biden’s son’s equity company once bought a $1.7 billion stake in.
The Biden admin is claiming that the “emergency sale” was conducted to “provide a wartime bridge that will support American consumers and the global economy in response to Vladimir Putin’s war of choice against Ukraine.”
The Energy Department received 126 bids, and the department chose 12 to receive a portion of the offering.
One of those 12 companies was Unipec America, Inc. and it was chosen to receive 950,000 barrels of crude oil in the “price-competitive sale.”
According to a bombshell report from The Washington Free Beacon, Unipec is a branch of the China Petrochemical Corporation, also known as Sinopec.
Sinopec is wholly owned and controlled by China’s communist dictatorship.
The revelation follows a Wednesday Reuters report that revealed the Biden administration had recently released five million more barrels of crude oil from the strategic reserve to other countries.
China also received an additional one million barrels of the latest release.
Sinopec has a long history with the Biden family.
In 2013, Hunter Biden co-founded the private equity firm BHR Partners.
In 2015, BHR acquired a $1.7 billion stake in Sinopec Marketing.
In 2017, Biden took a minority stake in BHR.
Hunter purchased a 10% stake through an LLC he solely owned called Skaneateles.
Last year, an attorney for Hunter Biden told The New York Times that Hunter “no longer holds any interest, directly or indirectly, in either BHR or Skaneateles.”
However, records in China’s National Credit Information Publicity System show that Skaneateles still retains its 10% stake in BHR as recently as March this year.
Business records in Washington, D.C., still listed Hunter Biden as the sole owner of Skaneateles at the time.
It is not clear whether the Chinese records were accurate or needed to be updated.
The revelation about the March sale to Sinopec has already begun sparking calls for an investigation.
Daniel Turner, the executive director of the energy advocate group Power The Future, said that the March deal warrants investigation.
“The Biden Administration sent critical resources to the communist Chinese, including one firm which has the president’s own son Hunter as an investor, at the same time Americans are struggling at the pump,” Turner said in a statement.
“A special prosecutor should be appointed and Congress needs to investigate because the American people deserve the truth and they’re not getting it from the White House.”
🚨BREAKING: Joe Biden CAUGHT in MASSIVE corruption scandal, stealing oil from America with Hunter at the center
Will this bring down the Biden Crime Family for GOOD?!
— Benny Johnson (@bennyjohnson) July 8, 2022
As Slay News previously reported, calls are now mounting in the U.S. Senate for a probe into the Biden family’s ties to the Chinese Communist Party.
Republican Sens. Chuck Grassley (R-IA) and Ron Johnson (R-WI) are demanding that the Department of Justice (DOJ) investigates the links.
On Thursday, the two top senators sent a letter to Attorney General Merrick Garland, FBI Director Christopher Wray, and U.S. Attorney for Delaware David Weiss, demanding answers.
The Republicans asked Garland and Wray if “the FBI investigating Hunter Biden for criminal violations relating to his reported use of escorts linked to human trafficking rings.”