Who would have thought making a large chunk of the world your enemy would have negative consequences like this.
Interestingly, Sleepy Joe recognized the need to bolster our rare earth element supply chain, but obviously this won't happen overnight.
https://me.smenet.org/biden-administration-announces-plans-to-secure-rare-earth-element-supply-chain/
Get back to me in a few months and let me know who exactly we made enemies with.
Our own regulations, among other factors, forced us to offshore rare earth mining, leading to us being reliant on a communist adversary. We don’t have the domestic resources some other places do (we have some) yet we aren’t doing anything here. Nothing.
Sleepy Joe’s initiative from years ago invested hundreds of millions to bolster battery production and has accomplished basically nothing even though it was supposed to be making a dent in import reliance by 2026. The DOD wanted rare earth separation online by 2027.
In the meantime we spent a couple hundred
billion isolating Russia who has since cozied up to China and North Korea and India. Russia has a lot of rare earth deposits too, but you didn’t have any problem not buying from them. We’d like some rare earth rights as part of our investment in Ukraine.
We’ve seen how the might of American resources and manufacturing can shift gears quickly into an unstoppable force. Not sure we can afford to drag our feet for 6, 8, 10+ years just to onshore a relatively small percentage of what we need. “Hey, we tried” isn’t good enough. Deregulate rare earth mining in the US, incentivize companies to start separation, form new partnerships, and get us off the Chinese tit.
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Da Economy by ThePAMan
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