What the Department of Energy Is:
The Department of Energy (DOE) has been in existence for 25 years, and is primarily a national security agency. It’s purpose is to ensure energy security and maintain the safety of the nuclear weapons stockpile. It manages the clean-up of environmental damage left from 50 years of nuclear defense activities that impacted two million acres in communities across the country.DOE operates 24 preeminent research labs which employs 30,000 scientists and engineers, including the Lawrence Livermore Lab, the Argonne National Lab and three accelerator labs. It has four power marketing administrations market electricity, some of which are from hydro-electric dams built by the U.S. Army Corps of Engineers.What the Department of Energy Does:
The Department of Energy creates the national energy policy. It helps to develop and execute the President's Management Agenda. It has eight program offices, which:- Dispose of radioactive waste,
- Clean up land, buildings and material contaminated by nuclear weapons research and production facilities, and maintain the closed facilities support safe use of nuclear energy,
- Monitor and ensure the reliability of the nation's electric grid,
- Promote use of renewable energy sources,
- Monitor the nation's petroleum usage and supplies,
- Fund research in high-energy physics, nuclear physics, and fusion energy sciences.
How the DOE Affects the US Economy:
The DOE's Energy Information Agency affects the economy directly by providing their estimates of the supply and demand of oil. These weekly figures are used by oil commodities traders to base the prices of oil futures. The price of oil is a key determinant in inflation as felt by the average consumer, and therefore in consumer confidence.By providing funds for energy and science research, DOE helps increase U.S. competitiveness in technology and innovation.
