Sunday, September 20, 2020

Joe Biden Declared War on Coal. But His Son Got Rich off Chinese Coal.

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Despite the fact that Joe Biden suppressed the coal industry as vice president and has taken a stance of “no coal plants in America” on the 2020 campaign trail, his son Hunter has invested millions of dollars in Chinese coal.

During the Obama administration, Joe Biden gutted American coal with strict regulations. As a candidate, he has talked of “getting rid of fossil fuels” and even told miners to “learn to code.”

Yet, as the National Pulse notes, Bohai Harvest, a private-equity firm Hunter Biden directed since its 2013 founding, signed a contract worth millions with Yancoal, whose majority shareholder is the Chinese state-owned Yankuang Group.

Along with two state-owned Chinese banks, Bohai Harvest gave Yancoal $950 million and in return “collect[ed] interest of 8.55% a year on $760 million of the bonds, plus interest of up to 15% a year on the remainder.”

According to the Wall Street Journal, the deal gave Bohai “control” of the mines. The agreement was announced in February 2016 while Biden was still vice president and is set to last until 2024.

Although Hunter Biden pledged to give up his share of the company in 2019, the Daily Caller found he retained shares for months after his announcement. Furthermore, he reportedly still owns 10 percent of the fund. This means that if Joe Biden won the presidency, his son would be beholden to the interests of a foreign government — specifically the America-hostile Chinese Communist Party (CCP).



Per the National Pulse:

Bohai Harvest was a billion-dollar joint venture between Rosemont Seneca Partners, an investment fund founded by Hunter Biden and Obama-era Secretary of State John Kerry’s stepson in 2009, and the state-owned Bank of China notoriously birthed less than two weeks after Hunter traveled to China alongside his father.

Even though his son is benefiting from Chinese coal, Biden continues to frame himself as a champion for green energy.

Influenced by the recommendations penned by a unity task force between his campaign and that of former primary rival Senator Bernie Sanders (I-Vt.), Biden’s climate-change plan would impose sweeping (and expensive) regulations, such as seeking to make America “carbon-free” by 2035, instituting a federal green-energy jobs program, and establishing an Environmental and Climate Justice Division to crack down on polluters.

Biden’s plan to meet a 100-percent clean-energy standard by 2035 would have an undoubted effect on the coal and natural-gas industries, which currently produce 63 percent of all electricity in the country.

Speaking of that Environmental and Climate Justice Division within the Department of Justice for cracking down on those who pollute the environment, Biden’s plan reads: “Biden will direct his EPA and DOJ to pursue these cases to the fullest extent permitted by law and, when needed, seek additional legislation to hold corporate executives personally accountable — including jail time where merited.”

There are additional ties between Biden and China. Bohai was a $10 million cornerstone investor in the initial public offering of China General Nuclear Power Group (CGN), which was involved in a scheme to steal American nuclear technology by “procuring U.S.-based nuclear engineers to assist with designing and manufacturing certain components for nuclear reactors.”

These technologies likely saw use by the Chinese military, as the U.S. Defense Department has labeled the company a proxy for the People’s Liberation Army (PLA).

This is all in addition to Hunter Biden’s well-known involvement with the Ukraininan natural-gas firm Burisma, which became the subject of the impeachment of President Trump after the president attempted to investigate pay-to-play between Burisma and the Obama administration.

President Trump asked his Ukrainian counterpart to probe the Bidens due to the former vice president’s public admission that he threatened to withhold $1 billion in U.S. loan guarantees to Ukraine in 2014 if that country’s president did not fire prosecutor Victor Shokin, who was investigating natural-gas company Burisma Holdings at a time when Hunter Biden was on Burisma’s board making over $50,000 a month.

From the Chinese government to corrupt Ukrainian corporations, the Bidens have built a wide network of lucrative foreign connections throughout the decades that patriarch Joe has been in public service. It appears that a president Biden would be more beholden to these foreign interests than to the people of his own country.

 Photo: AP Images

Luis Miguel is a marketer and writer whose journalistic endeavors shed light on the Deep State, the immigration crisis, and the enemies of freedom. Follow his exploits on Facebook, Twitter, Bitchute, and at luisantoniomiguel.com.

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