The Obama administration has announced the formation of a working group to study issues affecting the US semiconductor industry, especially as they pertain to the nation's economic and security interests. From a report on VentureBeat:Chips are the heart of everything electronic, and they have become a $330 billion worldwide industry. U.S. companies have held the leading market share in the industry -- which puts the "silicon" in Silicon Valley -- for decades. The Semiconductor Working Group includes 11 experts on chips and the broader economy. John Neuffer, president of the Semiconductor Industry Association, the U.S. industry trade group, said in a statement: "SIA welcomes this timely announcement, given new challenges facing the U.S. semiconductor industry, including unprecedented government investment programs from some countries and the increasing technological complexity involved in achieving new innovation breakthroughs. These developments have implications not only for the economy and society, but also national security. In fact, SIA earlier recommended the Administration form a public-private advisory group to help guide government policy related to improving the competitiveness of the U.S. semiconductor industry.