Friday, February 20, 2009
DOE Secretary Stephen Chu on Spending Stimulus Money
U.S. Department of Energy (DOE) Secretary Steven Chu has publicly stated that he expects the agency to distribute 70% of the roughly $40 billion provided under the economic-stimulus legislation by the end of 2010. Secretary Chu has stated that loan guarantees to companies implementing alternative energy projects that would otherwise have trouble raising financing from private sources would be awarded by April or May of this year.
The current DOE budget is about $25 billion. (WJS, 2/20/09)