<html><head><meta http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div style="margin: 0px; font-stretch: normal; line-height: normal; min-height: 17px;" class=""><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal;" class=""><a href="http://Oilprice.com" class="">Oilprice.com</a> <span style="-webkit-font-kerning: none; background-color: rgb(255, 255, 255);" class="">May 05, 2019</span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; min-height: 17px;" class=""><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(51, 51, 51); -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(51, 51, 51); background-color: rgb(255, 255, 255);" class=""><span style="font-kerning: none" class="">Are We Really Facing A Battery Metal Shortage?</span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255);" class=""><span style="font-kerning: none" class="">By <a href="https://oilprice.com/contributors/Nick-Cunningham" class=""><span style="-webkit-font-kerning: none; color: rgb(0, 0, 0);" class="">Nick Cunningham</span></a> - </span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); min-height: 17px;" class=""><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); min-height: 17px;" class=""><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; color: rgb(0, 0, 238); -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0);" class=""><span style="text-decoration: underline ; font-kerning: none" class=""><a href="https://oilprice.com/Metals/Commodities/Are-We-Really-Facing-A-Battery-Metal-Shortage.html" class="">https://oilprice.com/Metals/Commodities/Are-We-Really-Facing-A-Battery-Metal-Shortage.html</a></span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); min-height: 17px;" class=""><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0);" class=""><b class="">Excerpts</b></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); min-height: 17px;" class=""><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255);" class=""><span style="font-kerning: none" class="">Tesla says that there could be a shortage of the key metals used in the manufacturing of electric vehicles as a dearth of investment in mining fails to keep up with soaring demand.</span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); min-height: 17px;" class=""><span style="font-kerning: none" class=""></span><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255);" class=""><span style="font-kerning: none" class="">A shortage of nickel, </span><span style="font-kerning: none; background-color: #fffb00" class=""><b class="">copper</b></span><span style="font-kerning: none" class=""><b class=""> </b>and lithium could crop up in the years ahead as the sale of EVs continues to climb, Sarah Maryssael, Tesla’s global supply manager for battery metals, told a closed-door Washington conference of miners, regulators and lawmakers, according to <a href="https://www.reuters.com/article/us-usa-lithium-electric-tesla-exclusive/exclusive-tesla-expects-global-shortage-of-electric-vehicle-battery-minerals-sources-idUSKCN1S81QS?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiosgenerate&stream=top" class=""><span style="-webkit-font-kerning: none; color: rgb(0, 0, 238); -webkit-text-stroke-color: rgb(0, 0, 238);" class="">Reuters</span></a>. As a result, the prices for these minerals will likely shoot up.</span></div><div style="margin: 0px; text-align: center; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); min-height: 17px;" class=""><span style="font-kerning: none" class=""></span><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); min-height: 17px;" class=""><span style="font-kerning: none" class=""></span><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255);" class=""><span style="font-kerning: none" class="">EVs require higher volumes of these metals than gasoline or diesel powered vehicles. For instance, </span><span style="font-kerning: none; background-color: #fffb00" class=""><b class="">EVs need twice as much copper</b></span><span style="font-kerning: none" class=""><b class="">.</b> According to Reuters, Tesla is trying to cut its use of cobalt, a critical metal that is overwhelmingly mined in war-torn Democratic Republic of Congo where its production is associated with human rights abuses. Instead, Tesla will need more nickel.</span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); min-height: 17px;" class=""><span style="font-kerning: none" class=""></span><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255);" class=""><span style="font-kerning: none" class="">In order to promote more mining, especially within the U.S., Republican Senator Lisa Murkowski (AK) and Democratic Senator Joe Manchin (WV) are <a href="https://www.reuters.com/article/us-usa-lithium-electric-exclusive/exclusive-us-seeks-to-challenge-chinas-electric-vehicle-supply-chain-dominance-idUSKCN1S81EO" class=""><span style="-webkit-font-kerning: none; color: rgb(0, 0, 238); -webkit-text-stroke-color: rgb(0, 0, 238);" class="">proposing</span></a> legislation that would ease permitting requirements on new mines. The legislation is positioned as a national security concern, clearly with an eye on China. China controls about two-thirds of the world’s battery electric manufacturing capacity, a figure that is <a href="https://www.bloomberg.com/news/articles/2019-05-02/tesla-manager-sees-risk-of-battery-minerals-shortage-in-future?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiosgenerate&stream=top" class=""><span style="-webkit-font-kerning: none; color: rgb(0, 0, 238); -webkit-text-stroke-color: rgb(0, 0, 238);" class="">expected</span></a> to rise to 73 percent by 2021, according to Bloomberg New Energy Finance (BNEF). The U.S. only accounts for about 13 percent of global lithium-ion battery manufacturing capacity.</span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); min-height: 17px;" class=""><span style="font-kerning: none" class=""></span><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255);" class=""><span style="font-kerning: none" class="">The World Bank estimates that by 2050 demand for lithium, graphite and nickel will skyrocket by 965 percent, 383 percent and 108 percent, respectively.</span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); min-height: 17px;" class=""><span style="font-kerning: none" class=""></span><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255);" class=""><span style="font-kerning: none" class=""><b class="">EV sales are rising around the world, and the deployment of solar and wind also continues to scale up.</b> Bloomberg <a href="https://www.bloomberg.com/news/articles/2019-05-02/odd-rivals-electric-cars-and-solar-compete-for-the-same-parts" class=""><span style="-webkit-font-kerning: none; color: rgb(0, 0, 238); -webkit-text-stroke-color: rgb(0, 0, 238);" class="">notes</span></a> that many of these clean technologies actually rely on the same supply chains, and compete against one another for certain high-tech parts. As a result, some solar-component companies have to wait as long as 50 weeks for parts because EV companies are scaling up production, illustrating the bottlenecks that are beginning to appear.</span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255);" class=""><span style="font-kerning: none" class="">In short, the clean energy transition will require gargantuan volumes of certain metals and minerals, even as the supply of those commodities appears to be lagging behind demand projections.</span></div><p style="margin: 0px 0px 15px; font-stretch: normal; line-height: normal; -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); min-height: 17px;" class=""><span style="font-kerning: none" class=""></span><br class=""></p><div class="">
<div dir="auto" style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration: none; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div dir="auto" style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration: none; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div dir="auto" style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration: none; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div dir="auto" style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration: none; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div dir="auto" style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration: none;"><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><div style="font-size: 14px;" class=""><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class="">2004</div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class="">===================================</div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><br class=""></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class=""> More Intense, More Frequent, and Longer Lasting Heat Waves in the 21st Century<b class="">. </b></span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal; min-height: 15px;" class=""><span style="-webkit-font-kerning: none;" class=""><b class=""></b></span><br class=""></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">Gerald A. Meehl and Claudia Tebaldi. </span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class=""><i class="">Science</i>, 13 AUGUST 2004</span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class=""><br class=""></span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">2008</span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">================================</span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class=""><div style="margin: 0px; font-stretch: normal; line-height: normal;" class=""><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">"All organisms live within a limited range of body temperatures …. Direct effects of climatic warming can be understood through fatal decrements in an organism's performance in growth, reproduction, foraging, immune competence, behaviors and competitiveness."</span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; min-height: 15px;" class=""><span style="-webkit-font-kerning: none;" class=""> </span><br class="webkit-block-placeholder"></div><div style="margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">Hans O. Pörtner and Anthony P. Farrell. Physiology and Climate Change. </span></div><div style="margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class=""><i class="">SCIENCE</i> 31 OCTOBER 2008 VOL 322</span></div><div style="margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class=""><br class=""></span></div><div style="margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">2009</span></div><div style="margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">==================================</span></div></span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">"Observed heat wave intensities in the current decade are larger than worst-case projections."</span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal; min-height: 15px;" class=""><span style="-webkit-font-kerning: none;" class=""></span><br class=""></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">Auroop R. Gangulya, et al. Higher trends but larger uncertainty and geographic variability in 21<sup class="">st</sup> century temperature and heat waves. </span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class=""><i class="">PNAS</i>, September 15, 2009.</span></div></div><div style="font-size: 14px;" class=""><br class=""></div><div style="font-size: 14px;" class=""><span style="font-size: 12px;" class="">2013</span><br class=""><div class=""><div dir="auto" style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">=================================</span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">“ … organisms have a physiological response to temperature, and these responses have important consequences …. biological rates and times (e.g., growth, reproduction, mortality and activity) vary with temperature.”</span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal; min-height: 15px;" class=""><span style="-webkit-font-kerning: none;" class=""> </span><br class="webkit-block-placeholder"></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">Anthony I. Dell, Samraat Pawar and Van M. Savage, Temperature dependence of trophic interactions are driven by asymmetry of species responses and foraging strategy.</span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class=""><i class="">Journal of Animal Ecology</i> 2013 </span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class=""> </span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">1970 </span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class="">=========================</div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">“What can be said with some assurance is that there is a unique and nearly ubiquitous compound, with the empirical formula<b class=""> H</b>(2960)<b class="">O</b>(1480)<b class="">C</b>(1480)<b class="">N</b>(16)<b class="">P</b>(1.8)<b class="">S</b>, called living matter. Its synthesis, on an oxidized and uncarboxylated earth, is the most intricate feat of chemical engineering ever performed - and the most delicate operation that people have ever tampered with.”</span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal; min-height: 15px;" class=""><span style="-webkit-font-kerning: none;" class=""></span><br class=""></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">Edward S. Deevey, Jr. Mineral Cycles. </span></div><div style="margin: 0px; font-stretch: normal; font-size: 12px; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class=""><i class="">Scientific American</i>, September 1970.</span></div></div></div></div></div></div></div></div></div></div></div></div>
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