The Bidens' deal with the Chicoms
President Joe Biden boasts proudly today he is leading an "incredible transition" from fossil fuels, but just three years before he won the presidency his family worked to score billions of dollars in deals helping executives in communist China gain access to U.S. natural gas, oil and energy infrastructure, according to internal business memos and interviews with congressional investigators.
Memos obtained by Just the News from the Hudson West III LLC partnership that presidential son Hunter Biden operated with a prominent Chinese business executive named Gongwen Dong show the Biden family pursued at least 21 major deals in 2017 and 2018 for Chinese interests seeking U.S. energy assets, including liquified natural gas export terminals, LNG trade deals, drilling exploration firms, pipelines and other key energy assets.
Many of the deals targeted assets in the oil-rich Gulf Coast, including Louisiana, and aimed to help an energy-hungry China gain access to U.S. oil and gas, according to a summary memo of the 21 deals. Just the News found the memo on a Hunter Biden laptop turned over to the FBI in 2019 and corroborated its authenticity with a Biden business associate directly familiar with the deals and memos.
"Discussed both oil and LNG trading/exporting opportunities," one memo sent to Hunter Biden read. "Our team was more interested in pursuing the LNG spread trading opportunities, due to the timing of upcoming winter peak usage season and the spiking natural gas price in China."
That LNG deal and others like it never went forward, but Hunter Biden's team chose to pivot in 2018 to other oil and gas deals, ranging from pipelines to drilling assets, the memo shows.
"Explore U.S. natural gas industry midstream investment opportunities (including natural gas pipeline projects with international and U.S.-based financial institutions)," the memo recommended as one of the 2018 opportunities.
Another goal, the memo stated: "Explore potential investment opportunities in the petrochemical and energy production space."
The Hudson West III opportunities memo stated it was seeking to acquire interests in some drilling and exploration companies, like Noble Energy's parent firm, that had fallen on hard times when oil and gas prices plummeted during the Trump administration. "Explore potential investment opportunity in distressed international energy company affiliates (for example, the Noble Group and affiliates)," the memo read.
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None of the deals in the memos obtained by Just the News appear to have been consummated, but Hunter Biden and Hudson West III received $5 million in payments from Chinese entities tied to Ye and CEFC shortly after it was formed, according to the information previously made public by Grassley, Johnson and Comer.
Though no deals were struck, Hudson West III incorporation documents show Hunter Biden was to receive a one-time $500,000 retainer payment and monthly payments of $100,000 from the firm after it was capitalized while his uncle, presidential brother James Biden, was to get $65,000 a month. Hunter Biden took the title of "co-chairman," while his Chinese business partner Gongwen Dong took the title "president."
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There is more.
Hunter did get a nice diamond out of the deal. He should get a chance to explain what he was up to after the election when the GOP expects to take over Congress.
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