House Committee on Oversight and Reform Ranking Member James Comer (R-Ky.) and Oversight Committee Republicans are raising questions about the Department of Energy’s (DOE) sale of oil from the Strategic Petroleum Reserve (SPR) to a Chinese energy company that Hunter Biden’s private equity firm has a financial stake in. Recently, DOE sold 900,000 barrels of oil to Unipec America, a subsidiary of Sinopec, a company owned by the Chinese Communist Party. The lawmakers are calling on Secretary Granholm to provide an immediate briefing and all documents and communications related to the SPR sale and Hunter Biden’s financial involvement.
“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,” wrote the Republican lawmakers. “DOE records show that in April 2022 the Department sold almost $100 million worth of oil to Unipec a subsidiary of Sinopec, a Chinese oil company. According to documents reviewed by Committee Republicans and supported by media reports, one of Hunter Biden’s private equity firms, BHR, invested $1.7 billion in Sinopec in 2015. It appears that Hunter Biden still maintains a financial interest in BHR, raising serious questions about the motivation behind selling oil from the SPR to Sinopec and whether DOE was aware of Hunter Biden’s financial stake.”
Committee Republicans previously wrote to Secretary Granholm on May 26, 2022 requesting a briefing on the DOE’s plan to replenish the SPR given that its purpose is to be a stockpile for times of national emergency. DOE failed to provide a briefing or any information related to the SPR. It is critical for Americans to know more about DOE’s recent sales activity and whether the President’s son continues to benefit financially from this Administration’s decisions.
“In order to ensure the American people that DOE and the Biden Administration are properly managing the sale of critical assets from the SPR and not further enriching the Biden family, we request a briefing and documents related to this matter,” continued the lawmakers. “The SPR was created so the U.S. would have a stockpile of crude oil supply to be used in the case of an emergency. It was never intended to provide oil to adversaries. The American people deserve to know more about the DOE’s recent sales activity and whether the President’s son benefited financially.”
Read the letter to Secretary Granholm here.