Energy Firms Up-In-Arms Over Congressional Treatment of Ex-Im Bank
Over the Fourth of July, American’s celebrated the birth of a nation. But in some corners, they mourned the potential death of a federal agency that has meant a lot to energy companies, especially those in the nuclear and renewable fields: the Export-Import Bank.
Actually, on June 30th, the deadlined passed for the U.S. Congress to reauthorize the agency, which makes loans to domestic businesses — both big and small — so that they can sell their wares around the globe. While the bank is now unable to make to any new loans, it still must service the existing ones it has.