Lithium is a key component in manufacturing batteries for electric vehicles. Despite the Biden administration’s war on fossil fuels, they are still playing favorites and Kabuki Theater with the U.S.’s resources while environmentalist groups and their allies tie it up in court.
The obvious beneficiary of this (ahem) controversy is, of course, China. However, a massive rare earth metals deposit discovery in Sweden could help break China’s lock on the lithium market.
Yet again, we see that neither the Biden administration nor environmentalists are serious about their proposals to transition the U.S. from using fossil fuels to so-called renewable energy.