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David Victor Comments on Allison's US Energy Dept Report

US Energy Dept needs loan oversight overhaul-review

02/10/2012
Roberta Rampton, Reuters

WASHINGTON, Feb 10 (Reuters) - The U.S. Energy Department relies on too many consultants and committees for managing its loans and needs to beef up its management, concluded a review commissioned by the White House in the wake of publicity over failed solar panel maker Solyndra.

Herb Allison, a former investment banker known for his work helping government agencies manage large, complex financing programs, reviewed the energy loan program and recommended an overhaul in oversight of the $23.769 billion portfolio.

Over the lifespan of the loans, the Energy Department has estimated that $2.9 billion may go unpaid, in line with Allison's valuation of $2.7 billion.

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David G. Victor is a professor at the School of International Relations and Pacific Studies and director of the School’s new Laboratory on International Law and Regulation. His research focuses on how the design of regulatory law affects issues such as environmental pollution and the operation of major energy markets. He is the author of Global Warming Gridlock, which explains why the world has not made much diplomatic progress on the problem of climate change while also exploring new strategies that would be more effective.

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