Biden shipped American coal companies to China, and now we know why
Joe Biden has been an opponent to coal production in America because he claims that the production of coal in America contributes to climate change becoming increasingly worse around the world.
Joe Biden is a self-proclaimed “super-environmentalist,” and he’s made it very clear that he is a foe of the U.S. coal industry in America.
Apparently, his son doesn’t feel the same way or, is it all a big money scheme for him and his father? I think you know the answer.
Hunter Biden has invested big money into Chinese coal companies overseas. Although it is hard to know how much money he has invested over the years, it is reported that he owns 10 percent of a private equity firm called Bohai Harvest, which is also known as BHR Partners.
BHR has contracts with a coal production company in China named Yancoal. Hunter Biden allegedly entered into this deal while his father was still VP under Obama.
The majority shareholder of the coal company is a Chinese state-owned enterprise Yankuang Group. And alongside two state-owned Chinese banks, BHR has pledged $950 million, and in return collect[ed] interest of 8.55% a year on $760 million of the bonds, plus interest up to 15% a year on the remainder. How much of that return goes to Joe and Hunter?
An unpaid member of the board upon its founding in 2013 claims Hunter Biden obtained an equity stake in BHR in October 2017 with a whopping $420,000 investment. Where did Hunter obtain such a large amount of money?
As of April, Hunter Biden has not divested his shares in the company, that he owns via an LLC, although he did step down from its board. So essentially, he is still making millions of dollars a year from investments in foreign coal while his father sends coal companies to China.