"Dozens of large-scale clean energy projects could be derailed if a measure to defund a federal loan guarantee program becomes part of a final Congressional budget deal.
The loan program was established in energy legislation written by Republicans and signed into law in 2005 by President George W. Bush. So far, it has provided loan guarantees or made preliminary commitments of more than $18 billion for 20 projects, according to the Department of Energy. Another 25 projects are nearly finished with the application process and would be expected to receive guarantees, the agency said recently.
A short-term spending bill passed by the Republican-controlled House in February proposed sweeping cuts for the program, however, raising the specter that those loan guarantee applications that are near completion but have not yet been finalized would be canceled. The program’s fate remained up in the air as leaders in Congress hammered out the final language for the spending bill, which could come to a vote as soon as Thursday."
John Collins Rudolf reports for the New York Times' Green blog April 12, 2011.
SEE ALSO"
"Areva Executive Praises Nuclear Power, Urges Loan Guarantees" (Dow Jones)
"Fukushima Will Not Affect US Nuclear Loan Guarantee Program: DOE" (Platts)
"Obama Seeks to Expand Loan Guarantees for Reactors, Chu Says" (Bloomberg)
"Tone Deaf Obama Expands Loan Guarantees for Reactors and Drops Renewable Energy" (It's Getting Hot in Here)
"White House Fears Gas Prices Could Tank Obama" (Los Angeles Times)
"Rising Oil Prices Beginning To Hurt US Economy" (AP)
"Americans Start To Apply Brakes as Gasoline Prices Soar" (AP/NYT)
Senators Ask Reid And McConnell To Save DOE Loan Guarantee Program (Forbes/Green Machine)
"With 'Riders,' GOP Seeks To Undo Obama Environmental Policies" (Christian Science Monitor)
"Break Energy Deadlock, Bipartisan Group Urges U.S." (New York Times)
"House Republicans Turn To Gas Price Pitch in Bid To Block EPA Climate Rules" (The Hill/E2 Wire)
"Obama 2012 Team Fears Voter Backlash on Gas Prices" (Reuters)
"White House Gas Pains" (Daily Caller)
"White House Dismisses Gov. Barbour Claim That Obama Wants High Gas Prices" (The Hill)
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