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It’s another Hunter Biden day in the Republican House of Representatives, though in this case they’re pretending that it’s about high gas prices, which isn’t so much a thing these days, with a bill that doesn’t do anything about energy costs anyway. The House is going to vote on legislation to prohibit sales from the Strategic Oil Reserve to China. It will also never see the light of day in the Senate.
It does, however, provide the House GOP another opportunity to try put the gloss of legitimacy on yet another of their conspiracy theories about President Joe Biden and his son, Hunter Biden. That theory is that the sale of about 1 million barrels of oil last year was directed to Unipec America, which is a subsidiary of a Chinese company, Sinopec. At one time Hunter Biden’s private equity firm invested in Sinopec in an investment fund which, Biden’s lawyers say, he has no stake.
Republicans don’t explicitly say this is about Hunter Biden, they say that the SPR is not supposed to be used as a stockpile for export. Except that’s not true, either. The law requires that the government sells the crude to the highest bidders, unless those companies are under U.S. sanction. Those sales can go to companies any country or to international subsidiaries of U.S. companies—in the sale in question the crude went to the Netherlands, India, and China. The sales are intended to ease shortages globally, because the oil market is indeed global, and pressure oil producing nations into keeping prices reasonable.
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