WRITTEN BY IRINA SLAV ON APR 18, 2022. POSTED IN LATEST NEWS
The Green-Energy Transition Is In A Death Spiral
lithium miningLithium prices have soared by close to 500% over the past year. Stocks at the London Metals Exchange have dropped to the lowest since records began in 1997. EV prices are rising. The energy transition may have well ended before it took off.
It’s increasingly looking like we are witnessing the mother of all perfect storms. When lockdowns started spreading across the world on the heels of Covid infections demand for natural resources naturally slumped but so did production. [bold, links added]
Then demand rebounded and it rebounded quickly while supply remained a hostage to broken supply chains and underinvestment in mining because of climate change and energy transition.
Then came the energy crunch, which made electricity a lot more expensive not just for the regular household but also, and perhaps more importantly, for industrial users such as aluminum smelters, for example. Some shut down, further hitting production.
https://climatechangedispatch.com/the-green-energy-transition-is-in-a-death-spiral/