{"id":1543254,"date":"2022-07-07T16:35:04","date_gmt":"2022-07-07T20:35:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1543254"},"modified":"2022-07-07T16:35:13","modified_gmt":"2022-07-07T20:35:13","slug":"biden-sold-a-million-barrels-from-us-strategic-petroleum-reserve-to-china-owned-gas-giant","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-sold-a-million-barrels-from-us-strategic-petroleum-reserve-to-china-owned-gas-giant\/","title":{"rendered":"Biden Sold a Million Barrels From US Strategic Petroleum Reserve to China-Owned Gas Giant"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-sold-a-million-barrels-from-us-strategic-petroleum-reserve-to-china-owned-gas-giant%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1543254&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div>\n\t\t\t<span class=\"article-category\"><a class=\"\" href=\"https:\/\/freebeacon.com\/national-security\/\">National Security<\/a><\/span><\/p>\n<p class=\"article-excerpt\">Biden&#8217;s Energy Department said move would &#8216;support American consumers&#8217; and combat &#8216;Putin&#8217;s price hike&#8217;<\/p>\n<figure class=\"post-thumbnail-container relative lg:mr-24 w-full my-4 mb-8\">\n\t\t\t\t\t<\/figure>\n<p>\t\t\t<span class=\"text-gray text-xs md:text-lg\"><a href=\"https:\/\/freebeacon.com\/author\/collin-anderson\/\" title=\"Posts by Collin Anderson\" class=\"author url fn text-red-700\" rel=\"author\">Collin Anderson<\/a> \u2022 July 7, 2022 4:22 pm<\/span><\/p><\/div>\n<div>\n<p><span>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 &#8220;support American consumers&#8221; and combat &#8220;Putin&#8217;s price hike.&#8221;<\/span><\/p>\n<p><span>Biden&#8217;s Energy Department in April <\/span><a href=\"https:\/\/www.energy.gov\/articles\/doe-announces-sales-strategic-petroleum-reserve-combat-putins-price-hike\" target=\"_blank\" rel=\"noopener\"><span>announced<\/span><\/a><span> the sale of 950,000 Strategic Petroleum Reserve barrels to Unipec, the <\/span><a href=\"https:\/\/www.linkedin.com\/company\/unipec-america-inc\/\" target=\"_blank\" rel=\"noopener\"><span>trading arm<\/span><\/a><span> 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 &#8220;address the pain Americans are feeling at the pump&#8221; and &#8220;help lower energy costs.&#8221; 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 <\/span><a href=\"https:\/\/www.reuters.com\/business\/energy\/oil-us-reserves-head-overseas-gasoline-prices-stay-high-2022-07-05\/\" target=\"_blank\" rel=\"noopener\"><span>report<\/span><\/a><span>. At least one shipment of American crude went to China, the report said.<\/span><\/p>\n<p><span>The Biden administration also claimed the Unipec sale would &#8220;support American consumers and the global economy in response to Vladimir Putin&#8217;s war of choice against Ukraine&#8221; and combat &#8220;Putin&#8217;s price hike.&#8221; But as the war rages on, Unipec has continued to purchase Russian oil. In May, for example, the company &#8220;significantly increased the number of hired tankers to ship a key crude from eastern Russia,&#8221; <\/span><i><span>Bloomberg<\/span><\/i> <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-27\/china-s-top-oil-trader-hires-more-tankers-to-ship-russian-crude#xj4y7vzkg?sref=ohmtMHdW\" target=\"_blank\" rel=\"noopener\"><span>reported<\/span><\/a><span>. That decision came roughly one month after Unipec <\/span><a href=\"https:\/\/www.reuters.com\/business\/energy\/exclusive-china-state-refiners-shun-new-russian-oil-trades-teapots-fly-under-2022-04-06\/\" target=\"_blank\" rel=\"noopener\"><span>said<\/span><\/a><span> it would purchase &#8220;no more Russian oil going forward&#8221; once &#8220;shipments that have arrived in March and due to arrive in April&#8221; were fulfilled.<\/span><\/p>\n<p><span>The White House did not return a request for comment. Its decision to sell barrels from the country&#8217;s Strategic Petroleum Reserve to a Chinese conglomerate comes as the American public increasingly sours on Biden&#8217;s energy policies. According to a January <\/span><a href=\"https:\/\/news.gallup.com\/poll\/389309\/americans-offer-gloomy-state-nation-report.aspx\" target=\"_blank\" rel=\"noopener\"><span>Gallup poll<\/span><\/a><span>, roughly three in four Americans are not satisfied with the federal government&#8217;s national energy policy, the highest level in roughly two decades.\u00a0<\/span><\/p>\n<p><span>Power the Future founder Daniel Turner admonished Biden for selling &#8220;raw materials to the Communist Chinese for them to use as they want.&#8221;<\/span><\/p>\n<p><span>&#8220;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&#8217;re just lying to the American people,&#8221; Turner told the <\/span><i><span>Washington Free Beacon<\/span><\/i><span>. &#8220;What they&#8217;re saying they did and what they did are not remotely related.&#8221;<\/span><\/p>\n<p><span>Turner also said the decision highlights the Biden family&#8217;s &#8220;relationship with China.&#8221; Biden&#8217;s son, Hunter Biden, is tied to Sinopec. In 2015, a private equity firm he cofounded <\/span><a href=\"https:\/\/freebeacon.com\/national-security\/how-chinese-companies-linked-to-hunter-biden-could-bail-out-putin\/\" target=\"_blank\" rel=\"noopener\"><span>bought a $1.7 billion stake<\/span><\/a><span> 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.<\/span><\/p>\n<p><span>Biden campaigned heavily against the oil and gas industry in 2020, promising to &#8220;end fossil fuel.&#8221; 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&#8217;s energy secretary, meanwhile, is <\/span><a href=\"https:\/\/freebeacon.com\/biden-administration\/doe-touts-work-groups-eliminate-fossil-fuels-gas-prices-reach-all-time-highs\/\" target=\"_blank\" rel=\"noopener\"><span>working with left-wing activists<\/span><\/a><span> who want to eliminate fossil fuels, and in late October, House Oversight and Reform Committee Democrats pushed <\/span><a href=\"https:\/\/freebeacon.com\/politics\/how-dems-helped-spike-gas-prices\/\"><span>top oil executives<\/span><\/a><span> to produce less gas due to climate change.<\/span><\/p>\n<p><span>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 <a href=\"https:\/\/freebeacon.com\/biden-administration\/biden-economic-adviser-americans-need-to-pay-more-for-gas-to-defend-liberal-world-order\/\" target=\"_blank\" rel=\"noopener\">assured<\/a> Americans that they need to pay high gas prices to support the &#8220;liberal world order.&#8221;<\/span><\/p>\n<p><span>&#8220;What do you say to those families that say, \u2018Listen, we can&#8217;t afford to pay $4.85 a gallon for months, if not years?'&#8221; CNN anchor Victor Blackwell asked Biden economic adviser Brian Deese in late June. &#8220;This is about the future of the liberal world order and we have to stand firm,&#8221; Deese responded.<\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>National Security Biden&#8217;s Energy Department said move would &#8216;support American consumers&#8217; and combat &#8216;Putin&#8217;s price hike&#8217;  Collin Anderson \u2022 July 7, 2022 4:22 pm The Biden<\/p>\n","protected":false},"author":176,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1543254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1543254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1543254"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1543254\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1543254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1543254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1543254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}