In this article, Bono, a manufacturing leader at PW reports on the latest developments in the US’s economy with a special focus on energy (1). In this article, Bono reports that the latest survey has indicated industrial manufacturers, hold the opinion that, in the coming three years, the overall cost of energy will reduce. A majority of these manufacturers also think that a reduction in energy cost will boost the US’s economy. In addition, some of them think that a reduction in energy costs will have a positive impact on job creation.
Manufacturers who believe that a reduction in energy costs will enhance economy posit that they will use this opportunity to expand their businesses to markets or create new ones abroad. Others think that this development will boost their supply chains, as well as, allow them upgrade their manufacturing systems. Energy is a significant input in the manufacturing process. Energy costs are some of the major investments manufacturers must invest in prior to commencing the manufacturing process. Therefore, a reduction in energy costs is a significant benefit to them; it means that the cost of operation will reduce. In summary, Bono suggests that the anticipated reduction in the cost of energy will have various benefits across the manufacturing industry (1). It will boost the US’s economy. This development will be realized because the cost of operation will have reduced, and some manufacturers will expand their current operations both locally and internationally. Consequently, there will be job creation and overall growth in the manufacturing industry.
I have paraphrased the above article in a manner that is understandable to the general audience. For instance, technical terms such as a manufacturing barometer have been replaced with simple terms such as survey. In addition, percentages that had been reported in the original article have been replaced by terms such as a majority, many or some. Furthermore, the consequences of a reduction in energy costs have been outlined in a simple manner. The reader can now comprehend why a reduction in energy costs will boost the economy.
Work Cited
Bono, Bobby. Special Topic: Impacts of Low Energy Costs. www.sme.org. April 2014.Web. April 24 2014. Accessed from http://www.sme.org/MEMagazine/Article.aspx?id=80551&taxid=1421
