Rare earth metals from China recently surged in price. The soaring prices are attributed to increased tensions between China and the U.S. and other developed nations, as well as a new Chinese law that allowed their government more controls over exports.
Rare earths are necessary to build batteries and other technologies for electric vehicles and renewable energy sources like, wind and solar power. Only a few countries around the world possess significant reserves of rare earth metals and this limited availability makes these resources extremely vulnerable to political instability, leading to higher costs and uncertain supply for consumers.
These recent price spikes are yet another reason we should weigh carefully where America gets its energy. Americans have worked hard to achieve energy independence by taking advantage of our abundant, domestic American resources like natural gas. This has helped us build a more stable and prosperous economy, but it also makes us safer and less reliant on unpredictable and untrustworthy foreign governments like China.
Check out The Empowerment Alliance for more information about “green” energy’s hidden threats to our American energy security and independence.