One of the major aims of the Biden administration was to electrify the U.S. economy — cars, heating systems, factories, and everything else — and produce the electricity to power our nation from wind, solar, or existing nuclear power. At the same time, his administration was unwilling or unable to secure domestic mining necessary for his forced energy transition. The Trump administration now has the opportunity to unlock America’s mineral potential which would unleash resources needed for myriad of modern technologies.
In IER’s research paper, The Economic and Strategic Importance of Domestic Mineral Production, provides a sober analysis of the challenge of retooling our energy system from hydrocarbons to minerals and critical materials, which would be required under such net zero policies. Specifically, the report shows:
- A “net zero” carbon emissions policy requires significantly more critical minerals than we are using now.
- Critical mineral processing and production are currently concentrated in China, meaning that pursuing a “net zero” strategy will have serious implications for both national and energy security.
- The increase in demand for these minerals and materials is already putting upward pressure on prices. If we don’t take steps to simplify the process of permitting and opening mines in the U.S., these problems will only get worse over time.
Read IER’s report The Economic and Strategic Importance of Domestic Mineral Production
