Login
Login Forgot your password?

IMTS 2012

Home News White House to Release Energy Loan Review

White House to Release Energy Loan Review

Finace - Federal, Industry News

The White House says it plans to release the results of an independent 60-day review the Energy Department's loan programs this week.

Font size
Manufacturing Group February 6, 2012

In late October, the Obama administration said it was ordering a review of the Energy Department's loan programs in the face of growing criticism over a number of loans — including several auto-sector awards - and the bankruptcy of solar panel startup Solyndra LLC, which had received $528 million in government loans.

The White House tapped Herb Allison, a former Treasury official who oversaw the $700 billion Troubled Asset Relief Program — including the government's $85 billion auto bailout - to review the loan programs in late November.

White House spokesman Eric Schultz said the administration had received the report.

"As we've said all along, we are going to release it publically, but we've also said all along that we're going to take time to review it, assess its findings and prepare for anticipated questions. We'll look forward to releasing the report by the end of the next week," Schultz said.

White House Chief of Staff William Daley ordered the independent analysis on the state of the Department of Energy's loan portfolio — including loans to solar, nuclear and auto companies.

Click here to read the entire article:

Add a comment:

Post Comment
* TES - Today's Energy Solutions reserves the right to edit or remove reader comments for any reason it deems appropriate.

Most Searched