• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days Does Toyota Know Something That We Don’t?
  • 6 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 3 days World could get rid of Putin and Russia but nobody is bold enough
  • 2 days America should go after China but it should be done in a wise way.
  • 6 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 5 days China is using Chinese Names of Cities on their Border with Russia.
  • 6 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 5 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 6 days Putin and Xi Bet on the Global South
  • 6 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 7 days United States LNG Exports Reach Third Place
  • 7 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 11 days huge-deposit-of-natural-hydrogen-gas-detected-deep-in-albanian-mine
A Ban on LNG Exports Could Boost Carbon Emissions

A Ban on LNG Exports Could Boost Carbon Emissions

President Biden’s recent decision to…

China’s EV Growth Set To Explode in 2024

China’s EV Growth Set To Explode in 2024

China leads the global electric…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Biden Slams U.S. Miners With Critical Metals Decision

The Biden Administration plans to source the key metals for electric vehicles from allies outside America and focus on processing those materials in the United States, officials told Reuters in what could be a blow to U.S. miners and a move to appease environmentalists.

The U.S. Administration is keen to progress electrification and significantly increased use of EVs as part of its plans to curb emissions and fight climate change. However, in doing so, the Biden Administration is more likely to focus on job creation in the processing of the raw materials for EVs, rather than on sourcing those critical metals with more permits for mining in the United States, the Reuters sources with direct knowledge of the plans said.

Earlier this year, President Joe Biden said he planned to replace the whole federal vehicle fleet with electric cars, creating one million jobs in the process. Jobs aside, we're talking about more than 600,000 cars that will be replaced with EVs. 

The Biden Administration's proposed jobs plan envisages a $174 billion investment "to win the EV market" by enabling automakers to spur domestic supply chains "from raw materials to parts, retool factories to compete globally, and support American workers to make batteries and EVs."

Yet, China has built a strong position in the entire supply chain of critical minerals, from raw materials to processing those minerals into battery-ready components.

To reduce reliance on China for the energy transition and the climate agenda, the U.S. must either mine those minerals on home soil or source them from allies overseas. The sources of critical minerals could be countries like Canada, Australia, or Brazil.

"It's not that hard to dig a hole. What's hard is getting that stuff out and getting it to processing facilities. That's what the U.S. government is focused on," one of Reuters' sources said.

By Tsvetana Paraskova for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News