As Biden Gutting The US Coal Industry, His Son Cashed In With China
The former Vice President decimated the United States coal industry while in office and on the campaign trial he making the same claims.
Biden has told voters that America needs to get “rid of fossil fuels” and tells coal miners to “learn to code.”
As Biden destroyed the US coal industry his son Hunter directed a private equity firm, Bohai harvest to sign a contract with Yancoal. The majority shareholder of the coal company is a Chinese state-owned enterprise called the Yankuang Group.
The National Pulse reports:
Alongside two state-owned Chinese banks, Bohai Harvest pledged $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.”
The Wall Street Journal identified Bohai Harvest as gaining “control” of the mines.
Announced in February 2016, while Biden was still Vice President, the current arrangement stands for nine years and is set to expire in 2024.
While Hunter Biden pledged to divest of his stake in the company in 2019, the Daily Caller revealed he retained shares for months after his announcement.
The National Pulse points out that it is alleged Hunter still owns 10 percent of the fund, which means his son would be beholden to the interest of a foreign government. Yes, if Joe Biden was elected president this November his son would be beholden to the Chinese Communist Party, the same government that failed to warn the world about the coronavirus.
Think about this as Biden – who claims to be an environmental advocate – destroys the coal industry in the United States with increased regulation his son cashes in the big bucks sign a contract with a Chinese state-owned coal company.
While Biden was Vice President the coal industry lost over 80,000 jobs and 400 coal mines.
This is the man that wants to be your President.