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US seeks to challenge China on rare-earth elements, key ingredients in Biden's energy plan

Added 05-09-21 07:04:07am EST - “President Biden's agenda for a clean-energy future requires ratcheting up demand for rare-earth elements, the essential materials for many high-tech items, including green-energy products like electric vehicles and wind turbines.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “US seeks to challenge China on rare-earth elements, key ingredients in Biden's energy plan”. Below is an excerpt from the article.

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President Biden’s agenda for a clean-energy future requires ratcheting up demand for rare-earth elements, the essential materials for many high-tech items, including green-energy products like electric vehicles and wind turbines.

But China’s near monopoly on the materials could be the biggest challenge to Biden’s plans.

"China occupies 80% of production, and their internal demands are outstripping their supply," Defense Metal CEO Craig Taylor told FOX Business on Thursday. "That leaves the West really behind if we don’t get it together and start funding these projects."

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