House Oversight and Reform Ranking member James Comer (R-KY) told Breitbart News in an exclusive statement that when Republicans take control of the House, they plan to investigate reports that President Joe Biden reportedly sold nearly a million barrels of the US Strategic Petroleum Reserve (SPR) to a Chinese state-owned gas company that has financial ties to a private equity firm co-founded by Hunter Biden.
Collin Anderson of the Washington Free Beacon released a bombshell report that Biden’s Department of Energy sold one million barrels to Unipec, the trading arm of Sinopec. Sinopec is fully owned and operated by the Communist Party of China.
According to the report, Biden’s son Hunter Biden has financial ties to CPP-owned Sinopec. A private equity firm co-founded by Hunter reportedly bought a roughly $2 billion stake in Sinopec Marketing in 2015.
The Free Beacon noted:
Biden is connected to Sinopec through BHR Partners, a private equity firm he co-founded in 2013. BHR purchased a $1.7 billion stake in Sinopec Marketing in 2015. Biden at one point held a stake of 10% in BHR Partners through its wholly owned company, Skaneateles, LLC.
Comer, the senior member of the House Oversight Committee, and likely the next chairman of the Oversight Committee, told Breitbart News they plan to investigate reports that President Biden sold oil linked to Hunter. Biden once they take a majority in the House after the 2022 midterm elections.
“From day one, the Biden administration has waged war on American energy producers. It started with the cancellation of the Keystone XL pipeline and continued with their efforts to implement sweeping Green New Deal policies. Their recent decision to remove oil from the Strategic Petroleum Reserve has not only failed to bring down high gas prices, it has now left Americans vulnerable to the volatile oil markets created by this administration,” Comer said exclusively. at Breitbart News. “The Department of Energy is operating behind closed doors and has left Americans in the dark. Under no circumstances should President Biden supply our oil reserves to hostile foreign adversaries or Chinese companies linked to Hunter Biden. It is critical that Energy Secretary Granholm stop dodging our congressional inquiries and testify before the oversight committee.
Comer charged, “When the Republicans control the hammer, we will get answers.”
Indeed, many questions remain unanswered around these reports.
Asked by reporters at a press conference on Friday, White House press secretary Karine Jean-Pierre said, “The Department of Energy cannot dictate what oil companies do with oil. they buy or where they ship it to sell. This is something, again, that the oil company decides. And again, I would refer you to the Department of Energy on this matter.
“It is unclear if young Biden still has a financial stake in BHR Partners. Biden’s White House repeatedly asserted throughout 2019 and 2020 that Hunter Biden was out of the investment company, but Chinese company records show he still has a stake in the company.” , explained Jordan Dixon-Hamilton of Breitbart News.
The Biden administration did not explain the issues surrounding Hunter Biden’s stake in BHR, and it directed members of the press to representatives of Hunter Biden.
However, the Oversight Committee, as the House’s main investigative committee, could launch investigations, with subpoena power, into the Biden administration’s sales of the Strategic Petroleum Reserve.
The Biden administration has also failed to cooperate with House Oversight Republicans on many issues regarding the Department of Energy’s plans, or lack thereof, to fill the Strategic Petroleum Reserve. The SPR is intended for times of national crisis, such as the Arab oil embargo of the 1970s, not for desperate and failed attempts to lower gas prices.
Comer and House Oversight Republicans have also asked Department of Energy Secretary Jennifer Granholm to testify before the committee on these issues.
The Department of Energy has not cooperated with any of these requests from Comer and House Republicans for oversight.