Rep. Pat Fallon (R-TX) appeared on Newsmax’s “John Bachman Now” on Thursday to react to the news that the Biden administration had reportedly sold oil from the Strategic Petroleum Reserve to a Chinese company with ties to his son’s illicit business dealings.
In March, the Department of Energy announced that it was releasing 30 million barrels of crude oil out of the Strategic Petroleum Reserve. The “emergency sale” was reportedly conducted in order to “provide a wartime bridge that will support American consumers and the global economy in response to Vladimir Putin’s war of choice against Ukraine.”
The Department of Energy received 126 bids and chose 12 to receive a portion of the offering of oil. One of the companies chosen was Unipec America, Inc., which received 950,000 barrels of crude oil in the so-called “price-competitive sale.”
The sale went largely unnoticed until Thursday, when The Washington Free Beacon broke the story that Unipec is a branch of the China Petrochemical Corporation, which is also known as Sinopec and is controlled by the Chinese government. The news follows a Wednesday Reuters report which revealed that the Biden administration recently released five million more barrels of crude oil from the reserve to other countries, one million of which went to China.
Sinopec has a prior history with the Biden family. According to the Daily Wire, “In 2013, Hunter Biden co-founded the private equity firm BHR Partners. In 2015, BHR acquired a $1.7 billion stake in Sinopec Marketing. In 2017, Biden took a minority stake in BHR, purchasing a 10% stake through an LLC he solely owned called Skaneateles.”
Reacting to this news, Fallon stated that the use of the Strategic Petroleum Reserve should require authorization from Congress to prevent presidents from using it for political reasons.
The Texas congressman also argued that the move is another reason “why we want to get to the bottom of” Hunter Biden’s foreign business deals.
“Well, Joe Biden has proven that he puts America last and — unlike President Trump with his policies of putting America first,” Fallon said. “Our office, we filed H.R. 7996, John, to protect the Strategic Petroleum Reserve. And — it’s meant for a national emergency or if you have a natural disaster.”
“So, our bill, if it was passed into law, would require an act of Congress to tap into it,” he added. “It shouldn’t be used by fiat or by decree for political expediency.”
“Do you think this has anything at all to do with Hunter Biden’s foreign business deals with China?” John Bachman, the show’s host, asked.
“Well, I hope not,” Fallon replied. “Because that’s high crimes and misdemeanors, and that’s treason. And that’s why we want to get to the bottom of this.”