The sagging US economy and its energy sector will soon be getting a boost, as well as some help in competing with China.
On September 30, the board of directors of the US Export-Import Bank approved $3.4 billion in financing to support US exports in a wide range of industries, including aerospace, oil and gas, locomotives and solar. The hope is that the financing will create over 20,000 news American jobs and help in efforts put the country’s economy back on its feet. For energy companies struggling to compete with a heavily subsidized Chinese energy market, the financing could be a major game changer. Keep reading →