Opinion: New Reports Warns America May Need to Dig Deep to Meet Demand for Rare Earth Metals
Michael Reagan is on vacation. His column will appear upon his return.
President Joe Biden promised to be a “green” president, but most of that green may be going to China.
As in cold, hard cash.
“It is clear that the demand for key minerals and rare earth metals will skyrocket in the years ahead,” says Michael Stumo, CEO of Coalition for a Prosperous America. “These are the raw materials needed to make President Biden’s clean energy plan a reality.”
It’s not hyperbole. A new analysis from the International Energy Agency (IEA) says supply chains for the elements that make green tech possible — copper, lithium, cobalt, and nickel — aren’t being developed outside of China to meet the growing demand. For example, IEA projects lithium demand for the electric vehicle revolution will be 40 times larger by 2040 than it is today.