Orangeburst
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You don't understand how the process works. Every single time we sell oil from our reserve it is sold to the highest bidder. So this Texas based Chinese company offered the most for the oil. The oil isn't designed to be sold at a discount. The process is to rescue the price at the pump simply by increasing the supply on the market. I am against doing it now and was under trump. There is no scandal here. Biden would have to prevent every other company on earth from out bidding the Chinese one. See below.
When an administration orders the release of oil from the Strategic Petroleum Reserve, “the Department of Energy puts out a notice of sale that alerts companies that oil will be made available for purchase,” said Hugh Daigle, a professor in the University of Texas-Austin Department of Petroleum and Geosystems Engineering. “Companies then bid competitively on the oil, and the winning bidders receive the oil and the bid price.” The winning company works out with the Energy Department when and how it will take possession of the oil.
Sometimes the winning bidders may be U.S. refiners, Daigle said, in which case the oil quickly boosts U.S. gasoline supplies. But in other cases, he said, foreign companies win the bid. This increases the supply of global crude oil and, eventually, helps lower prices in the United States.
How much did we get per barrel? Seems relevant.
The CCP and India supposedly get discounts for Russian oil
Russian Oil Going About 10% Cheaper in China as Flows Upended
