The troubled DOE loan program at critical juncture, says BIO

October 15, 2010 |

In Washington, BIO executive vice president for BIO’s Industrial and Environmental Section Brent Erickson, said that “The DOE loan guarantee program is at a critical juncture. Its rapid and successful implementation could help companies build pioneer plants and achieve the nation’s vision for near-term advanced biofuels commercialization and petroleum displacement.”

U.S. Government Accountability Office auditors found that “the program has been implemented slowly and with improper rules for treating applicants consistently”.

Since Title XVIII of the 2005 Energy Poliocy Act established a loan guarantee authority of $77 billion, the department has issued only one loan guarantee for $535 million. Further, Congress has taken $3,.5 billion from the program to pay for the Cash for Clunkers program, and for urgent assistance to states, noting that the DOE is not using the money.

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Category: Policy

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