There's been a lot of discussion about the new Clean Vehicle Credit in the Inflation Reduction Act of 2022 that is making its way toward Joe Biden's desk (having left the Senate, it's now just
Well, let’s not jump to conclusions. What are “critical minerals” anyway?
It turns out, critical minerals are … pretty much everything you’d find in a battery: aluminum, antimony, barite, beryllium, cerium, cesium, chromium, cobalt, dysprosium, europium, fluorspar, gadolinium, germanium, graphite, indium, lithium, manganese, neodymium, nickel, niobium, tellurium, tin, tungsten, vanadium, yttrium, and 25 more “others.
I can’t see a secure, sustainable EV industry that doesn’t break up this Chinese dominance of these critical minerals. Howard Klein, cofounder of RK Equity, writes: “On balance, the EV subsidies, local content requirements and USA government financing should be substantial positives to those developing projects in the USA and countries with whom we have Free Trade Agreements . As should the permitting reform Senator Manchin received assurances would be forthcoming later this year.
Indeed. These provisions are important to the birth, revival, and/or growth of critical industries and jobs in the United States. January 1, 2024, may be a tough target date to be able to get all battery minerals from domestic or free-trade countries, but lighting a fire under the industry’s frunk is just what’s needed in order to secure a brighter and more secure future for Americans, and the planet as a whole.
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