Re: $5.00 per gallon gas
... more fake outrage from the far right.
Buried in the Free Beacon story was the fact that Hunter Biden, the president’s son, had once had business dealings with Sinopec. Rosemont Seneca Bohai, a private equity firm where Biden was principal, invested in a fund generally known as BHR Partners. In 2015, that fund bought a stake in Sinopec Marketing, a Sinopec subsidiary that sells oil products. A Hunter Biden lawyer in 2021 said he “no longer holds any interest, directly or indirectly,” in BHR, though the Washington Examiner reported in March that Chinese records do not yet show that.
Then on Friday, the Federalist, an influential right-wing publication, posted an article headlined with a snappy talking point: “Biden Sold Oil From Emergency Reserves To Chinese Gas Giant Tied To His Scandal-Plagued Son.”
That spurred the congressional tweets. “Hunter is still business partners w/ the CCP [Chinese Communist Party] & they are buying our oil,” Rep. Marjorie Taylor Greene (R-Ga.) tweeted, linking to the Federalist article. “Can we impeach Joe Biden now???”
You can see how a months-old news release was used to churn up the outrage machine. But here’s why that outrage is misplaced.
Crude oil is an international commodity. Its price is determined by global supply and demand. The Biden administration is trying to increase the supply of oil to help bring down prices that have soared as the United States and its allies have tried to stem purchases of Russian energy products.
... more fake outrage from the far right.
Buried in the Free Beacon story was the fact that Hunter Biden, the president’s son, had once had business dealings with Sinopec. Rosemont Seneca Bohai, a private equity firm where Biden was principal, invested in a fund generally known as BHR Partners. In 2015, that fund bought a stake in Sinopec Marketing, a Sinopec subsidiary that sells oil products. A Hunter Biden lawyer in 2021 said he “no longer holds any interest, directly or indirectly,” in BHR, though the Washington Examiner reported in March that Chinese records do not yet show that.
Then on Friday, the Federalist, an influential right-wing publication, posted an article headlined with a snappy talking point: “Biden Sold Oil From Emergency Reserves To Chinese Gas Giant Tied To His Scandal-Plagued Son.”
That spurred the congressional tweets. “Hunter is still business partners w/ the CCP [Chinese Communist Party] & they are buying our oil,” Rep. Marjorie Taylor Greene (R-Ga.) tweeted, linking to the Federalist article. “Can we impeach Joe Biden now???”
You can see how a months-old news release was used to churn up the outrage machine. But here’s why that outrage is misplaced.
Crude oil is an international commodity. Its price is determined by global supply and demand. The Biden administration is trying to increase the supply of oil to help bring down prices that have soared as the United States and its allies have tried to stem purchases of Russian energy products.
Comment