We all are aware of the Fracking Revolution and its massive impact on the American lives. This led America to make one of the most eminent recoveries in its history. This technology enabled the United States of America to make a mark in the world. They have reduced their dependence heavily in the other countries for energy and other resources. They have also helped them gain a robust economic stability.
What often goes unnoticed is the efforts that have been put in by the Federal Government in this. The United States Department of Energy was created by the Congress and President Ford after America faced its first energy crisis in the 1970’s. The sole aim of the project was to develop sustainable domestic energy supplies. The research at this firm has helped many private companies invest in hydraulic fracturing which was considered a hazardous field.
The American companies started shaping the economy around the globe and Fracking went from an isolated experimentation to a revolution.
Fracking has been considered as one of the strongest cases in the field of public investment. However, Congress considers the extreme slashes in the budget that was proposed for the DOE programs in the recent times by the Trump administration.
In my area of expertise, testing and demonstration, and stories about research which have been done with the imprimatur of the Federal Government, which gave investors and entrepreneurs the much-needed confidence that they needed to build a new product or work on an existing product to make it better.
A few examples from the recent times: The department has established many meaningful partnerships that have helped the research reach new heights. One of its partners is a metal forging company based out of Ohio that works on developing faster and more efficient heating technology that changed the face of the business. They have also worked with a Colorado dairy farm and have helped them reduce their energy consumptions by cutting a quarter of it by using efficiency audits. This also paved the way for other dairy farms throughout the nation. There are stories where they have helped companies survive as well. They have worked closely with an American insulation industry by helping them make a higher performing product that helped them gain a good market share as they met the environmental standards.
DOE also plays a major role in helping the consumers. One will find hard to believe how much they save on account of these Federal efficiency programs each month. During the Presidency of Ronald Regan, DOE has establishing improved standards for energy efficiency amongst household appliances and other equipment such as those for building and manufacturing. These standards help Americans save a whopping $63 billion on energy bills every year. Apart from these, DOE also extends its support to the state and local government to develop building efficiency codes that benefit both the home and the building owners of the buildings.
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