• 28 mins WTI At 7-Month High On Supply Optimism, Kurdistan Referendum
  • 7 hours Permian Still Holds 60-70 Billion Barrels Of Recoverable Oil
  • 12 hours Petrobras Creditors Agree To $6.22 Billion Debt Swap
  • 16 hours Cracks Emerge In OPEC-Russia Oil Output Cut Pact
  • 20 hours Iran Calls On OPEC To Sway Libya, Nigeria To Join Cut
  • 22 hours Chevron To Invest $4B In Permian Production
  • 23 hours U.S.-Backed Forces Retake Syrian Conoco Gas Plant From ISIS
  • 1 day Iraq Says Shell May Not Quit Majnoon Oilfield
  • 3 days Nigerian Oil Output Below 1.8 Million BPD Quota
  • 4 days Colorado Landfills Contain Radioactive Substances From Oil Sector
  • 4 days Phillips 66 Partners To Buy Phillips 66 Assets In $2.4B Deal
  • 4 days Japan Court Slams Tepco With Fukushima Damages Bill
  • 4 days Oil Spills From Pipeline After Syria Army Retakes Oil Field From ISIS
  • 4 days Total Joins Chevron In Gulf Of Mexico Development
  • 4 days Goldman Chief Urges Riyadh To Get Vision 2030 Going
  • 4 days OPEC Talks End Without Recommendation On Output Cut Extension
  • 4 days Jamaican Refinery Expansion Stalls Due To Venezuela’s Financial Woes
  • 4 days India In Talks to Acquire 20 Percent Of UAE Oilfield
  • 5 days The Real Cause Of Peak Gasoline Demand
  • 5 days Hundreds Of Vertical Oil Wells Damaged By Horizontal Fracking
  • 5 days Oil Exempt In Fresh Sanctions On North Korea
  • 5 days Sudan, South Sudan Sign Deal To Boost Oil Output
  • 5 days Peruvian Villagers Shut Down 50 Oil Wells In Protest
  • 5 days Bay Area Sues Big Oil For Billions
  • 5 days Lukoil Looks To Sell Italian Refinery As Crimea Sanctions Intensify
  • 5 days Kurdistan’s Biggest Source Of Oil Funds
  • 6 days Oil Prices On Track For Largest Q3 Gain Since 2004
  • 6 days Reliance Plans To Boost Capacity Of World’s Biggest Oil Refinery
  • 6 days Saudi Aramco May Unveil Financials In Early 2018
  • 6 days Has The EIA Been Overestimating Oil Production?
  • 6 days Taiwan Cuts Off Fossil Fuels To North Korea
  • 6 days Clash In Oil-Rich South Sudan Region Kills At Least 25
  • 6 days Lebanon Passes Oil Taxation Law Ahead Of First Licensing Auction
  • 7 days India’s Oil Majors To Lift Borrowing To Cover Dividends, Capex
  • 7 days Gulf Keystone Plans Further Oil Output Increase In Kurdistan
  • 7 days Venezuela’s Crisis Deepens As Hurricane Approaches
  • 7 days Tension Rises In Oil-Rich Kurdistan
  • 7 days Petrobras To Issue $2B New Bonds, Exchange Shorter-Term Debt
  • 7 days Kuwait Faces New Oil Leak Near Ras al-Zour
  • 8 days Sonatrach Aims To Reform Algiers Energy Laws
Alt Text

The Mining Sector In This Troubled Nation Just Collapsed

Tanzania’s crackdown on the mining…

Alt Text

Supervolcanoes Could Drive The Electric Car Boom

Supervolcanoes could hold the key…

Alt Text

Chinese Environmental Crackdown Could Lift Commodity Prices

A Chinese environmental crackdown could…

Professor Chris Rhodes

Professor Chris Rhodes

Professor Chris Rhodes is a writer and researcher. He studied chemistry at Sussex University, earning both a B.Sc and a Doctoral degree (D.Phil.); rising to…

More Info

European Union to Stockpile Rare Earth Elements

In the light of the Chinese hegemony for its own energy projects, it is feared that restrictions in the global supply of rare earth elements (REEs)will ensue. Until last year, China provided some 97% of the REEs available in the world, which are used increasingly to fabricate the magnets in wind-turbines and in electric vehicles. As China expands its own use of energy, including that from renewable sources, the nation intends to hold-back its exports of REEs for its own use, with potential impacts on the development of renewable energy such as from wind across the world. Last year's abrupt curtailment in exports from China has led to a gap in supply for REEs.

In response to this threat, the European Union (EU) is looking into building a stockpile of REEs, in the form of a mixed carbonate of these metals. This follows-on from the British government's recent "strategic metals plan", in which securing supplies of key metals including REEs is perceived as critical to the future economy and in meeting carbon-emissions targets. It is proposed that an annual 3,000 tonnes of REE mixed carbonate be garnered.

This amount is the stable output of the European Molycorp Silmet production of the material and is matched by that from the company's U.S.-based REE production, amounting to 10% of the world market following the imposition of quotas by China.

The growth of the mighty Chinese economy has taken its toll on the U.S.-based solar energy firm, Solyndra, which has filed for bankruptcy - indeed the third such company to fold against Chinese competition recently. Such growth must be underpinned by resources, of metals and other elements, and of energy. It is predicted that by 2020, Chinese demand for crude oil will match that of the U.S., and one can only wonder at what point supply of such critical commodities will fail.

By. Professor Chris Rhodes

Professor Chris Rhodes is a writer and researcher. He studied chemistry at Sussex University, earning both a B.Sc and a Doctoral degree (D.Phil.); rising to become the youngest professor of physical chemistry in the U.K. at the age of 34.
A prolific author, Chris has published more than 400 research and popular science articles (some in national newspapers: The Independent and The Daily Telegraph)
He has recently published his first novel, "University Shambles" was published in April 2009 (Melrose Books).
http://universityshambles.com




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News