U.S. Senator Ted Cruz (R-Texas) will introduce an amendment to a military spending bill that would block President Joe Biden from selling America's strategic oil reserves to hostile nations, after it was revealed Biden previously sold oil to Communist China in a deal that may have delivered profits to his son Hunter.
Cruz, a member of the Senate Foreign Relations Committee, introduced his Protecting America's Strategic Petroleum Reserve from China Act as an amendment to the National Defense Authorization Act, an annual appropriations bill that funds the Defense Department.
“The amendment prohibits the Department of Energy (DOE) from selling petroleum products (e.g., crude oil) from the Strategic Petroleum Reserve (SPR) to any entity under the ownership, control, or influence of the Chinese Communist Party. It also requires DOE, as a condition of any sale of crude oil from the SPR, to ensure the oil will not be exported to China,” a statement from Cruz's office reports.
“The original intent of the Strategic Petroleum Reserve was to ensure that America had sufficient oil reserves in the event of an emergency. We are unnecessarily and dangerously undermining our national security in any instance that we sell any part of this stockpile to the Chinese Communist Party or any company under its control. I'm proud to lead the bipartisan effort to stop this from happening in the future and unleash American energy,” said Cruz.
The original legislation was co-led by Sen. Joe Manchin (D-W.Va.) and co-sponsored by Sens. John Boozman (R-Ark.), Jerry Moran (R-Kan.), Rick Scott (R-Fla.), Maggie Hassan (D-N.H.), Cindy Hyde-Smith (R-Miss.), Mike Braun (R-Ind.), Joni Ernst (R-Iowa), Michael Bennet (D-Colo.), John Hoeven (R-N.D.), Angus King (I-Maine), John Cornyn (R-Texas), Tom Cotton (R-Ark.), Dan Sullivan (R-Alaska), Mike Lee (R-Utah), Kyrsten Sinema (I-Ariz.), and Roger Marshall (R-Kan.). The U.S. House of Representatives passed similar legislation by an overwhelming, bipartisan vote of 331-97, with 113 House Democrats voting in support of the bill.
Not only is the sale of America's strategic oil reserves a national security threat, but the presidentially-authorized transaction may also financially benefit the Biden family.
“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,” U.S. House Oversight and Accountability Republicans reported in July 2022, in a letter to Energy Secretary Jennifer Granholm.
“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,” the representatives wrote.
“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,” the letter reads.
“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,” they concluded.
Granholm does not appear to have provided a full accounting.
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
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