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098231 1 (1976-07-26)

handle is hein.gao/gaobadxrr0001 and id is 1 raw text is: 


         United States General Accounting Office
                 Washington, D.C. 20548


                                 FOR RELEASE ON DELIVERY
                                 Expected at 10:00 a.m. EDT
                                 Monday, July 26, 1976


                       Statement of                    LM098231
                   Monte Canfield, Jr.
          Director, Energy and Minerals Division
                        Before the
          Subcommittee on Economic Stabilization
        Committee on Banking, Currency and Housing
          United States House of Representatives
   -                        on
              Energy Conservation Financing


Mr. Chairman and Members of the Committee:

    We welcome the opportunity to be here today to discuss

with you the energy conservation proposals contained in

H.R. 14205, a bill to amend the Energy Policy and Conservation

Act, and H.R. 12169, the proposed Federal Energy Administration

Extension Act. You asked that we focus on loan guarantees

and other financing mechanisms contained in these bills for

the purpose of encouraging implementation of energy conservation

measures.

ENERGY CONSERVATION

    Energy conservation holds the promise of moving the

country further down the road toward energy independence

per dollar spent than do most energy supply increasing

options. In fact, conservation iso truely one of our least

costly energy supply options and must be a key element of

national energy policy.

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