government and i was the first prt nieanof the lpo in 2007. dipeilysrved over 10 years of the overseas private investment corporation and senior management projt finance a major energy of a structure projects around te world. prior to t goeen serce fiei he dirt and previous to that is served as he was to disable officer officer and i am a vietnam combat vetan. at the outset i want to particularly express my thanks to all of you and yourrse thsteyars.resan important to reiterate the point this is a program initiated by the u.s. congress with strong bipartisan support. in 2005 and we continue to welcome suggestions during the course of the development of the efhigh tros hma at i years associate with accomplishments with the program. the staff is one of the finae toans rdrtehor strsunedd rl standards. i would hasten to add to the gao in its reason on it at the d.o.e. program guarantees acknowledge commercial lenders interviewed by gao stated that lp is derwriting a due riussorr tan those of the private sector. it is noteworthy that in 2011 e depa

collectively the lpo project support over 60,000 jobs. while we have faced challenges and activities we've always made financial decision based solely on what we believed at the time of resolving the best outcome for the united states taxpayer. we also react on a continuing basis to play fundamental lessons learned. as emphasized in a written testimony testimony before you overcome substantial impacts beyond contributions of the projects themselves. a whole new subindustry husband also to the supply chains. with respect to specific legislation the administration is currently reviewing and has not reached an official position. but we certainly share the goal of protecting taxpayer dollars, that is always our primary objective in the program, department of concerns the legislation will not accomplish that goal. in fact we are concerned the legislation could have unintended consequences that would limit our ability to fulfill the mandate that congress gave us and could potentially put taxpayer dollars at risk. additionally the legislation co

i was the first employee of the lpo in 2007. prior to joining the department to stand up the lpo i previously served over 10 years with the overseas private investment corporation any senior management project finance position underrunning and structuring major energy infrastructure projects around the world. prior to this government service, my 40 year career has been entirely devoted to project finance in the private sector, and previous to that i served as a u.s. naval officer, and i am a vietnam combat veteran. at the onset i want to particularly express my thanks to all of you, and a respective staffs, for your continued interest and attention to the program over the past five years. it is important to reiterate the point that this was a program initiated by the u.s. congress with strong bipartisan support in 2005, and we have continually welcome suggestions from the committees during the course of the development of the lpo. before highlighting the progress we've made over the past five years, i would also like to acknowle