The Biden administration sold close to one million barrels of oil from the United States’ strategic reserve to a Chinese company that one of his son’s equity companies once bought a $1.7 billion stake in.
In March, the Energy Department announced that it was releasing 30 million barrels of crude oil out of the U.S. Strategic Petroleum Reserve. 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.”
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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.”
Read more: Daily Wire
