We have long suspected the Chinese Communist Party has President Joe Biden in a compromised position because of Hunter Biden’s ties to Unipec America, the U.S. trading arm of Communist China’s government-owned company, Sinopec. If there is no sub rosa conspiracy to protect the president and his son, why would Biden — at a time when gasoline and diesel fuel prices are at record highs — sell over 5 million barrels of essential oil from America’s strategic reserves to Communist China?
The cost of petroleum motor fuels — gasoline, diesel, jet fuel — affects the price of all consumer goods. Thus, our highest inflation rate in more than four decades is now 9.1%.
Tens of millions of hardworking Americans are now tightening belts and living paycheck to paycheck. Yet our president sells millions of barrels of our precious strategic oil reserves to a nation determined to destroy us. Why?
With a job approval rating already in the cellar because of his misguided war on fossil fuels, why has our president chosen to make things worse for himself and his party? Nothing Joe Biden has done since taking office has helped Americans in the critical areas of energy production, supply chain efficiency or inflation.
He stopped drilling in the Arctic National Wildlife Refuge, terminated federal drilling leases, canceled pipelines, shut down coal plants and forged so much distrust with oil producers most are now wary of investing in new wells.
Producers warn, “Biden told us up front our ‘days are numbered.’ The costs of developing new producing sites are enormous. We can’t afford to have Biden pull ‘a Keystone’ on us and shut them down.”
Since September 2021, the Biden administration has approved three contracts for selling oil to China’s Unipec America, totaling more than $460 million. This means China has the benefit of over 5 million barrels of oil that could have helped ease the sticker shock American’s feel every time we fill our tanks.
According to Louisiana Republican Rep. Clay Higgins, “Biden is draining our strategic reserves at an unprecedented rate … Sending U.S. petroleum reserves to foreign adversaries is wrong, and it undermines our national security.”
Our president went hat in hand to Saudi Arabia, begging them to increase production and replace U.S. shortfalls Biden’s policies have created. Result: humiliation for our country and further degradation of America’s global prestige.
Even without the apparent corruption of Hunter Biden’s alleged connections with a Communist Chinese company or selling our oil to America’s No. 1 adversary, tapping our strategic oil reserves except during legitimate emergencies is a bad idea.
Think of our strategic reserves like the nest egg you and your family put aside for rainy days and hard times. You wouldn’t tap your emergency savings to assist a belligerent neighbor who wants to burn your house down. But in selling oil to China, this is precisely what Joe Biden did.
Democrats are desperate for any victory, no matter how slight, before November’s midterm elections. House Speaker Nancy Pelosi tried a visit to Taiwan to bolster her party’s fading support. But her visit looked more like political grandstanding than statesmanship when it became known she and the White House were at odds over the trip.
We gave Biden a thumbs-up when the CIA killed al-Qaida chieftain Ayman al-Zawahiri. But killing al-Zawahiri will not lower the cost of gasoline or diesel, fill empty grocery shelves or prevent rolling electrical blackouts, the predicted result of Biden’s obsession with green energy. Nor will passage of the so-called Inflation Reduction Act actually reduce inflation.
It will be cool/cold in the USA when the midterm elections occur in November. But in Communist China, they will be heating their homes with our strategic oil reserves.
Oliver L. North is a combat-decorated U.S. Marine, founder and CEO of Fidelis Publishing and Fidelis Media. Find out more about him at www.olivernorth.com. David Goetsch is a Marine Corps veteran, member of the Florida Veterans Hall of Fame, professor of business, and Christian counselor. Find out more about him at www.david-goetsch.com. Their new book “Tragic Consequences” is available at www.faithfultext.com.