Skip to content
Subscriber Only
Energy & Science

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
Bloomberg business news
Mnuchin Looking at Lending Program for Struggling Oil Companies
Updated on

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.”