CaughtInThe
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Finally!!!! Long term planning.
"President Joe Biden issued a directive on Thursday that invokes the Defense Production Act -- a move the administration hopes will kickstart the domestic production and mining of the critical minerals needed to manufacture batteries for electric vehicles and long-term energy storage.
The directive adds critical minerals -- things like lithium, nickel, graphite, cobalt and manganese -- to the list of items covered by the 1950 Defense Production Act, a Korean War-era law that allows the president to use emergency authority to make large orders of a certain type of product or expand productive capacity and supply.
The longterm goal, according to White House officials, is to move the country toward renewable energy and electric vehicles. The less the country depends on fossil fuels and gas-powered cars, the less prone consumers are to wild swings in oil prices amid geopolitical conflict.
"This is a long-term shift," Nikos Tsafos, an energy security expert at the Center for Strategic and International Studies, told CNN. "If you're looking for relief at the pump or any immediate shift in prices, this is not the thing that does that. This is about thinking about 2030. It's about putting the United States in a strong position in the world to not be exposed to the kind of risks that we are witnessing today with the high prices that come from geopolitical tension one-third of the way around the world."
"President Joe Biden issued a directive on Thursday that invokes the Defense Production Act -- a move the administration hopes will kickstart the domestic production and mining of the critical minerals needed to manufacture batteries for electric vehicles and long-term energy storage.
The directive adds critical minerals -- things like lithium, nickel, graphite, cobalt and manganese -- to the list of items covered by the 1950 Defense Production Act, a Korean War-era law that allows the president to use emergency authority to make large orders of a certain type of product or expand productive capacity and supply.
The longterm goal, according to White House officials, is to move the country toward renewable energy and electric vehicles. The less the country depends on fossil fuels and gas-powered cars, the less prone consumers are to wild swings in oil prices amid geopolitical conflict.
"This is a long-term shift," Nikos Tsafos, an energy security expert at the Center for Strategic and International Studies, told CNN. "If you're looking for relief at the pump or any immediate shift in prices, this is not the thing that does that. This is about thinking about 2030. It's about putting the United States in a strong position in the world to not be exposed to the kind of risks that we are witnessing today with the high prices that come from geopolitical tension one-third of the way around the world."
Biden wants to ramp up production of critical minerals. Here's how it's supposed to help consumers | CNN Politics
It's a move the administration hopes will kickstart the electric vehicle and renewable energy supply chain.
www.cnn.com