(RoyalPatriot.com )- According to the National Pulse, while President Biden monkey wrenches US energy production, China Petroleum & Chemical Corporation, the Chinese state-run oil and gas company linked to his son Hunter, is hitting record levels of production.
Sinopec’s Fuling Shale Gas field announced last week that is has produced 40 billion cubic meters of natural gas, setting a new record for shale gas production in China.
Back in 2015, Hunter Biden’s private equity firm, BHR Partners — AKA Bohai Harvest RST (Shanghai) Equity Investment Fund Management Company — poured nearly a billion dollars into Sinopec Marketing Company, a fully-owned subsidiary of China Petroleum & Chemical Corporation, giving Hunter’s firm a 30 percent stake in Sinopec.
In October 2019, Hunter Biden gave up his seat on BHR’s board.
But in December of last year, a month after the 2020 election, the New York Post reported that Hunter still owns a 10 percent stake in BHR through his Delaware company Skaneateles, LLC.
In February, press secretary Jen Psaki was asked whether Hunter had divested from BHR. She said that Hunter was “working to unwind his investment,” then reminded the press that he is a “private citizen.”
Yes, he’s a private citizen. Fine, Jen. But that doesn’t negate the fact that Joe Biden pledged that neither he nor any member of his family will have any foreign business ties while he is President. That makes “private citizen” Hunter’s connection to a Chinese investment firm absolutely relevant to the American people.
It must be one heck of a knot to “unwind” because by the end of September, Hunter Biden still held a 10 percent stake in BHR.
On October 4, Psaki refused to say whether or not Hunter had yet divested from BHR.
While Sinopec’s shale gas boom wasn’t caused by Joe Biden. It presents yet another example of how the Biden family’s wealth is directly linked to the success of China’s economy. So while Joe can clamp down on oil and gas leases on US federal lands and shut down the Keystone XL Pipeline, leading to staggering increases in energy prices here at home, he and his family are sitting pretty.