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Mnuchin Weighs Lending Program for Struggling Oil Companies

  • ‘Investment-grade’ drillers should look to Fed, Mnuchin says
  • Treasury chief says he’s discussing alternatives with banks
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Mnuchin Looking at Lending Program for Struggling Oil Companies
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Treasury Secretary Steven Mnuchin said he’s considering the creation of a government lending program for U.S. oil companies, which are looking for federal aid as they cope with a devastating plunge in prices.

“One of the components we’re looking at is providing a lending facility for the industry,” Mnuchin said in a Bloomberg News interview on Thursday. “We’re looking at a lot of different options, and we have not made any conclusions.”