With the increased inflation of oil and gas prices all over the world, countries are finding it hard to import fuel. Most people are having a hard time refueling their cars.
In the U.S, President Biden has sold over a million barrels of oil from the strategic Reserve to a Chinese state-owned company that had received a total of $2 billion investment from BHR Partners in 2015 owned by Hunter Biden.
The oil was sold to SINOPEC, a Chinese company owned by the government in which Hunter Biden owns stakes. Hunter Biden said he had released his stake holds on the company but it is still proved that he still owns 10% in the firm.
Question is “Why out of all oil companies in the world, the oil is sold to a company that has Hunter Biden’s involvement.”
For Hunter, he is not a Chinese Economist nor Fuel expert but a ploy to get good deals with President Biden in the U.S by China, and it happened, with Joe Biden selling them the oil. But this oil could have been sold to Hunter Biden’s company in china. In the long run, the First Family is the top most beneficiary of this sell.
In other cases the U.S Energy Department claims that the action will help American consumers and offset Putin’s price hike that is why it authorized for the oil to be sold to China in perspective of lowering the energy costs but it may as well be used as a cover up for their gains.
Since the U.S is getting most of its oil from Russia apart from Canada and Mexico, the U.S Government says it is afraid that Russia may again increase its price on the fuel, which the government is working hard to put a cap to prevent more increased inflation.