(READ) Republicans ask why Biden admin. allegedly sold US oil reserves to Chinese

Rep. James Comer (R-Kentucky) and other House Oversight Committee Republicans are raising questions about the Department of Energy’s (DOE) reported 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. Hunter Biden is President Biden’s son.

The Republicans want to know why the DOE recently allegedly sold off 900,000 barrels of oil to Unipec America, a subsidiary of Sinopec, a company owned by the Chinese Communist Party.

The lawmakers are now calling on Energy Secretary Granholm to provide an immediate briefing and all documents and communications related to the SPR sale and Hunter Biden’s financial involvement, if any.

In a letter sent to Secretary Granholm, the lawmakers wrote:

“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.”
Ranking Member James Comer (R-Kentucky) and Republican House Oversight Committee members

Republicans previously wrote 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.

Lawmakers address the stockpile reserve in their letter by stating: “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 Energy Secretary Jennifer Granholm here and below.

July 20, 2022

We are continuing oversight of the U.S. Department of Energy’s (DOE) depletion of oil from the Strategic Petroleum Reserve (SPR).1 According to DOE, a recent sale of oil from the SPR transferred 900,000 barrels of oil to Unipec America, a subsidiary of Sinopec, a company owned by the Chinese Communist Party, and most troubling, a recipient of billions of dollars of investment by one of Hunter Biden’s equity funds, BHR Partners (BHR).2 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. This transaction is even more troubling given that evidence continues to mount showing the Biden family peddled access to the highest levels of government to enrich themselves.3 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.

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.4 According to documents reviewed by Committee Republicans and supported by media reports, one of Hunter Biden’s

1 Letter from Hon. James Comer, et. al, H. Comm. On Oversight and Reform, to Hon. Jennifer Granholm, Sec’y, U.S. Dep’t of Energy (May 26, 2022).
2 U.S. Dept. Of Energy, FY22 Emergency Drawdown No. 2 Apparently Successful Offers Report, available athttps://www.spr.doe.gov/doeec/OilSaleArchivalReports/OilSaleArchive.htm.

3Letter from Hon. James Comer, Ranking Member, H. Comm. On Oversight and Reform, to Hon. Janet Yellen, Sec’y, U.S. Dep’t of Treasury (July 14, 2022).
4 U.S. Dept. of Energy, Press Release, DOE Announces Sales From Strategic Petroleum Reserve to Combat Putin’s Price Hike, Apr. 21, 2022, https://www.energy.gov/articles/doe-announces-sales-strategic-petroleum-reserve- combat-putins-price-hike.

private equity firms, BHR, invested $1.7 billion in Sinopec in 2015.5 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.

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.6 It was never intended to provide oil to adversaries such as China. The American people deserve to know more about the DOE’s recent sales activity and whether the President’s son benefited financially. On May 26, 2022, Committee Republicans requested a staff-level briefing on DOE’s decision to deplete the SPR.7 You have failed to provide this briefing. We reiterate our prior request and ask that you immediately schedule this briefing no later than July 27, 2022, so that we can better understand how DOE decided to sell oil to a Chinese company with connections to the President’s son.8 In addition, we request the following items no later than August 3, 2022:

All documents and communications, from January 20, 2021 to present, referring or relating to the sale of oil from the SPR to Unipec.
All documents and communications, from January 20, 2021 to present, referring or relating to Hunter Biden and/or BHR Partners.

To ask any follow-up related questions, or to schedule the briefing, please contact the Committee on Oversight and Reform Republican staff at (202) 225-5074. The Committee on Oversight and Reform is the principal oversight committee of the U.S. House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X. Thank you in advance for your cooperation with this inquiry.

Sincerely,

_________________________ Jody Hice
Ranking Member Subcommittee on Government Operations

5 Tristan Justice, Biden Sold Oil From Emergency Reserves to Chinese Gas Giant Tied to His Scandal-Plague Son, the Federalist, July 8, 2022.
6 Id.
7 Letter from Hon. James Comer, et. al, H. Comm. on Oversight and Reform, to Hon. Jennifer Granholm, Sec’y, U.S. Dep’t of Energy (May 26, 2022).

8 Id.