WASHINGTON - A proposal under consideration by the administration to create a secondary market for energy loans could allow banks to breathe easier when lending to petroleum product producers.

The Department of Energy is mulling over the creation of a "Petroleum Development Investment Management Corp.," or Paddie Mac. Much like the Federal Home Loan Mortgage Corp., or Freddie Mac, the proposed government- sponsored enterprise would aim to cut the cost of loans by standardizing them and reducing risk to lenders.

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