Tuesday, January 25, 2011

Guest Post: Rare Earth Lessons in Supply & Demand (EconForecast)

TUESDAY, JANUARY 25, 2011

The following is a guest post by Bill Willoughby.  Bill is a mining engineer who blogs at Resource and Environment.  

The U.S. Department of Energy (DOE) tells us, in its 2010 Critical Materials Strategy [1], that we are on the cusp of a clean energy revolution. That revolution is visible from my window at night, in 96 blinking red lights, and growing, that mark the location of a wind farm on the horizon, soon to be capable of generating 180 MW.  I have yet to see a Volt or Leaf on the road, but Priuses abound.

DOE tells us that clean energy production by wind turbines and solar cells; and consumption by vehicles (electric and hybrid) and energy-efficient lighting, depend on a handful of critical materials, and our dependence is likely to grow in the coming decades.

Of these, DOE determines that five rare earth metals, dysprosium, neodymium, terbium, europium and yttrium, are the most important to clean energy and carry the highest risk of problems in supply. (See Charts Below)


READ FULL POST HERE

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