Trump allies want Biden investigated for selling oil reserves to China even though Trump did the same in 2017

In this June 29, 2019 file photo, U.S. President Donald Trump poses for a photo with Chinese President Xi Jinping during a meeting on the sidelines of the G-20 summit in Osaka, on the western Japan.

Then, President Donald Trump poses for a photo with Chinese President Xi Jinping during the G-20 summit in Osaka, Japan, on June 29, 2019.AP Photo/Susan Walsh, File

  • Trump and his allies have been criticizing the Biden administration for selling oil to China.

  • However, reports show that Trump did the same thing in 2017 while he was president.

  • Records show that the Trump administration sold 550,000 barrels of crude oil to PetroChina that year.

While former President Donald Trump and his allies have been criticizing the Biden administration for sale of oil to chinaTheir reports show that Trump did the same thing in 2017 while in the White House.

In Trump’s first year as president, the Energy Department sold 550,000 barrels of the US Strategic Petroleum Reserve, or SPR, to PetroChina, a state-owned energy giant and China’s largest oil producer. Axios’ Sophia Cai first reported.

Reuters Y global S&P reports show the 2017 deal was done for $28.8 million, at a price of $52.30 a barrel.

Press release The Department of Energy also confirms that PetroChina was one of the buyers of US oil in 2017.

On July 11, the Biden administration announced that it had sold 950,000 barrels to Unipec, a subsidiary of China’s state-owned oil and gas company Sinopec. It was part of a broader strategy that uses US reserves to offset global shortages of crude oil stemming from the economic fallout from the Ukraine war. the Department of Energy said.

The outrage directed at Biden stems in part from his son, Hunter Biden, previously have links with China’s Sinopec through the investment fund company BHR Partners.

It is not clear if Hunter Biden is still involved with Sinopec. His spokeswoman said The New York Times in November that he no longer had any financial interest in BHR Partners, although The Washington Examiner later claimed having seen records showing the young Biden still owns a minority stake in the company.

The White House and a representative for Hunter Biden did not immediately respond to requests for comment from Insider.

However, much of the GOP criticism of the Biden deal has focused on the oil going to China.

trump told him Breitbart earlier this month that it was “inconceivable” that China was “getting millions of barrels of oil from us and we’re the ones with the shortage.”

Asked if he felt the Biden deal was “a scandal worthy of investigation,” the former president said he thought it was “certainly strange” that the oil went to China.

Former Vice President Mike Pence also tweeted that the sale was “an outrage”.

On July 13, Missouri Senator Josh Hawley asked for an investigation in the Biden administration’s oil sale. ā€œCritically, the American people deserve answers on exactly how the Department justified shipping SPR oil to China,ā€ his statement read.

Senators Ted Cruz of Texas and John Kennedy of Louisiana also introduced legislation this month that would prevent US oil from being sold to China or other US enemies and rivals.

“It is reckless and inexplicable for President Biden to allow oil from the Strategic Petroleum Reserve to be exported to China.” cross wrotecalling him a threat to the national security of the United States.

Robert McNally, one of former President George Bush’s top international energy policy advisers, told Axios that Trump and Biden’s oil sales to China are “a hamburger of nothing.”

“It doesn’t matter if a refinery turns it into gasoline in Louisiana or the Mediterranean or the East China Sea because oil spills all over the world and it’s all one big market and one big price,” McNally said, according to the outlet. .

Read the original article at Business Insider

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