I agree with Secretary Chu that the path to economic growth is created. Since the end of World War II, advances have led to economic prosperity, and they have accounted for the positive rise in per capita income in the United States. Almost all economic growth, efficiency, and development are fueled by creativity (Innovation as a Key Driver of Economic Growth & Competitiveness, 2016).
I agree with Secretary Chu that the government should invest in energy engineering even though times are tough. The bulk of today's industrial technologies are heavily dependent on energy. Hence the federal government should subsidize the new energy innovations so as to cater for the increased demand for energy (Secretary Chu to Deliver Speech at National Press Club, 2010). \n
US and China Competition in Energy Sector
There should be concerns that China will at one point surpass the US in the energy sector has less onerous regulations on the environmental matter while there is cheap labour at exposing. Thus, it becomes had to compete healthily with such a country due to expensive labour and stringent environmental regulations restricting the US energy sector (Matthews, 2016).
Biggest Environmental or Energy Challenge Facing the Americans
In the US, there are many technologies which produce high-level dirty fuels. The poorly synthesised oil end up polluting the environment. The atmosphere is a highly delicate component since it is hard to bring it back to its initial status once it has been polluted. I would propose the inferior technologies of oil production be scrapped out of the market.
Obstacles to the Policy Implementation
There are few technologies in place, or the production of energy, hence my policy of crapping out of these technologies would receive a lot of resistance. The government should thus finance the energy sector to accommodate new technologies of power generation.
Reference
Innovation as a Key Driver of Economic Growth & Competitiveness. (2016). NIST. Retrieved 14 April 2017, from https://www.nist.gov/speech-testimony/innovation-key-driver-economic-growth-competitiveness
Matthews, C. (2016). The United States Is Set to Take Manufacturing Crown from China. Fortune.com. Retrieved 14 April 2017, from http://fortune.com/2016/03/31/united-states-manufacturing-china/
Secretary Chu to Deliver Speech at National Press Club. (2010). Energy.gov. Retrieved 14 April 2017, from https://energy.gov/articles/secretary-chu-deliver-speech-national-press-club
