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Climate Wars: IEA Warns Governments To Stockpile Battery Metals
Climate Wars: IEA Warns Governments To Stockpile Battery Metals
China’s dominance in green energy technologies are rare earth metal production is very concerning to the International Energy Agency (IEA), who posted a stark warning Wednesday advising western governments to stockpile critical battery metals such as cobalt and lithium.
IEA’s warning comes as the next chapter in US-China tensions will be climate wars as energy transition investment ramps up with peak oil around 2030. Many Western countries and China have estimated net-zero carbon emission economies somewhere around 2040-2060. The need for western economies to become less reliant on China for rare earth metals, such as lithium and cobalt, is a necessity for independence from the East.
China has arguably been faster in adopting green technologies than western countries. Climate wars are much more than climate action and saving the planet – it’s about the superpower race between the US and China and who can deliver climate change solutions and clean-tech.
IEA said leading industrial nations should begin to develop stockpiles of metals and minerals.
“Meeting our climate change goals will turbocharge demand for mineral resources,” Fatih Birol, the head of the IEA, told Bloomberg by phone. “Voluntary strategic stockpiling can in some cases help countries weather short-term supply disruptions.”
The problem with rare earth metals is that only a handful of countries control more than 75% of the global supply. So if disruptions, for any reason, were seen, they would immediately ripple throughout the world, seizing the production of green technologies.
Bloomberg data shows demand for rare earth metals will soar this decade as countries decarbonizing their economies.
Bank of America lists the metals that go into clean technologies.
After decades of advising governments on oil and gas markets, the agency focuses on supply chain risks of rare earth metals.
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What does Climate Change Look Like?
What does Climate Change Look Like?
“Our goal is not to amass information or satisfy curiosity, but rather to become painfully aware, to dare turn what is happening to the world into our own personal suffering and thus to discover what each of us can do about it”
–Pope Francis
Several weeks ago, I forced myself to spend some time looking at pictures of Syrian refugees. These images have haunted me ever since. The pictures showed refugees landing on the shores of the Greek Island of Lesbos or Kos, huddled in rubber dinghies, or falling on the beach in exhaustion and relief. Others had drowned, their bodies washing up on the beaches of Turkey, Libya, and other Mediterranean nations. In many places, no one was there to meet them. The beaches were abandoned but for the stranded refugees. After a time, volunteers began to show up and assist the disheveled travelers, but many reports suggest an inadequate response by local authorities, as well as complaints by tourists, put- off by the interruption to their holiday enjoyment.
I have been haunted these images in part because of the basic compassion that most of us have for others in need, at least when we, ourselves, are safe and comfortable. The picture of drowned Ayland Kurdi, pictured at the top, stabs at the heart of the parent in me. He was the same age as my boys; but even short of the unthinkable and unbearable, I can’t help but try to imagine the difficulty in caring for young lives amidst fear, chaos, and violence. During our worst temper-tantrums and middle-of-the-night wake ups, for consolation and as a matter of counting my blessings, I try to imagine what it would be like to raise toddlers in a war-zone or in a refugee camp, and try to visualize the utter exhaustion, punctuated by fear, uncertainty, and perpetual discomfort.
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