Emergency Oil Reserves To China
“House Democrats blocked a motion Wednesday that would have barred oil from the nation’s emergency petroleum reserves from being shipped overseas to entities under the control of the Chinese Communist Party (CCP). The motion, proposed by California Republican Rep. David Valadao, would have made it illegal for oil from the emergency stockpile to be sent to China after President Joe Biden’s latest release sent 1 million barrels to Beijing enterprises. Democrats killed the motion with 219 voting against and 206 Republicans voting in favor.
Earlier this month, Reuters revealed that American oil from the strategic petroleum reserves maintained for sudden supply shocks was shipped to the east Asian adversary as opposed to U.S. refineries. According to the Energy Department, 950,000 barrels ended up in the hands of Unipec, the trading arm of the China Petrochemical Corporation owned entirely by the Chinese government.”
Originally published here at The Federalist on 21 July 2022.