Sunday, July 21, 2024

Alexander: Biden Administration sells U.S. emergency oil to China while strangling American domestic energy industry

by BIZ Magazine

At a time of skyrocketing inflation and record gas prices the Biden Administration won’t allow broad energy production in the U.S., which is punishing Americans at the pump, but in addition to that defect we are now selling our emergency crude oil reserves to our archenemy, China, and other nations.

It has been reported that nearly 1 million barrels of oil released from our nation’s Strategic Petroleum Reserve—for the stated purpose of reducing Americans’ pain at the pump, according to our addled president—has actually been sold to a Chinese state-owned energy conglomerate, Sinopec. 

In a plot twist worthy of a Hollywood thriller, this conglomerate has ties to the President’s son, Hunter Biden, through an investment firm the disgraced younger Biden co-founded.  The firm held a $1.7 billion stake in Sinopec Marketing which, of course, raises questions about why oil from our national emergency reserve is being shipped out of the U.S. and sent to China.

But it also raises the question: Who besides China is benefiting from these sales?

“Follow the money” instructed Deep Throat of Watergate fame. (I’ll address the Hunter Biden connection on another day).

On first review, it seems confusing and ambiguous.

But then, when the contents of the Hunter Biden ‘laptop from Hell’ are considered—and that the Biden Crime Family, including ‘the Big Guy,’ benefitted to the tune of millions of dollars from the Chinese government—the picture becomes clear and logical.  (Miranda Devine; NY Post).

Talk about indefensible. 

Let’s really understand what is happening here.  

On the one hand, due to the green energy delusions of the climate change religionists, the Biden Administration has largely shut down American energy production, beginning on the first day of this Administration. This has resulted in our domestic production and refining capacity being reduced by more than a million barrels of oil per day.  On the other hand, we are also now selling our emergency capacity to other nations including China.

This all means we have gone from being a net exporter of energy under President Trump to a country reduced to begging our enemy, Venezuela, and the nation Biden called a pariah state, Saudi Arabia—to drill more and sell us their excess production.  Also, the disastrous pending nuclear deal with Iran is sought in part in order to bring millions of barrels of Iranian oil into the international market.

Obviously, the point of having a national energy reserve is to support our country if an energy shortfall arises.  That’s why we must protect our national stockpile and not sell our strategic crude reserves to the Chinese Communist Party, especially when our government tells us that our emergency oil reserves are being depleted for the benefit of Americans Otherwise, the reserve will be depleted when America is faced with an energy emergency.

As U.S. Senator John Kennedy has stated “America’s strategic petroleum reserve protects our country during national emergencies.  Selling off American oil to countries that hate us undermines the security that the oil reserve is supposed to deliver …” 

The very best solution to all of this—and one that would cause the U.S. economy to explode with growth—would be for the Biden Administration to quickly take steps to turn on American energy production. 

This would include enacting the American Energy Independence Act which would reverse the war on U.S. domestic energy production by permitting widespread drilling on federal lands and waters while also approving the Keystone XL pipeline, freeing up U.S. LNG (liquefied natural gas) exports and generally fast-tracking energy and mineral development. 

In short, the fastest and easiest way to provide hope to millions of struggling Americans and drive the domestic energy market up is for President Biden to announce tomorrow that we are going to reopen and re-invigorate the U.S. oil and gas industry.   This includes repealing all so-called “green” regulations prohibiting the production and development of, and investment in, American energy.

This must happen soon.  In what sane world does a nation kill its own energy industry while at the same time sell its emergency reserves to our enemies? It’s clear that Pres. Biden is mentally and morally unfit to hold the most powerful office in the world.

Royal Alexander is a Shreveport Attorney

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