Emergency Oil and Gas, and Steel Loan Guarantee Boards

Congress established two Emergency Loan Guarantee Boards to help companies in the oil and gas, and steel industries that have suffered economic harm as a result of competition by foreign producers. The two Boards were authorized to guarantee up to 85 percent of the dollar value of loans extended by commercial banks to qualifying companies. SRI assisted the Boards by (1) analyzing the potential effects of proposed development and facility upgrades to be funded by the loan in conformance with requirements of the National Environmental Policy Act (NEPA), and (2) performing environmental due diligence audits for real properties offered as security collateral in conformance with requirements of the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA).

SRI's Envirotechnical Program analyzed dozens of proposed loan actions in an accelerated schedule. Issues addressed in these studies included the level of contamination at former and current steel manufacturing properties, control of air and water pollution from proposed new steel manufacturing processes, and best management practices for oil and gas production facilities on private and public lands. In total, we produced 18 NEPA documents and 14 CERCLA documents for the two Boards.