The International Energy Agency (IEA) has made an important statement that insinuates “achieving the Biden administration’s and other world leaders’ climate goals would entail dramatic energy transitions that would greatly empower Chinese industry” reports Fox Business.
On Tuesday, the IEA urged nations to “abandon fossil fuel investments immediately as part of an ‘unprecedented’ energy transformation geared toward achieving net-zero emissions by 2050.”
Fox Business notes that data from 2019 shows China is responsible for roughly “90% of processing for the world’s rare earth (REE) minerals, 40% for copper, 35% for nickel, more than 60% for cobalt, and nearly 60% for lithium.” The problem at hand is each of those minerals will see a “huge spike in demand if the world wants to reach goals outlined by Biden and others.”
Fox Business reports reaching the 2050 goal would “entail a drastic shift to alternative sources, translating into a massive spike in the demand for minerals, whose processing is overwhelmingly dominated by China.”
The U.S. and Russia have constituted the majority of oil and natural gas extraction, as well as oil refining, reports Fox Business, but they weren’t major players in the extraction and mining of various minerals needed for more alternative energy, the IEA report released earlier this month indicated.
Take notice, tree-hugging liberals; “the imbalance in mineral resources raises questions for the future of U.S. energy security.” A pursuit of “a radical transition to alternative energy, the U.S. would feed a surge in demand that largely benefits one of its primary geopolitical foes,” China writes Fox Business.
Biden and his environmental warriors can’t claim ignorance. Former Trump adviser Steve Milloy has speculated that Biden’s climate policies would leave the U.S. “entirely dependent on China.” The director of the Center for Energy and Environment at the Competitive Enterprise Institute (CEI) says Biden’s policies will reverse the Trump administration’s steps toward energy independence.