Here is report on the high level of US risk on Rare earths as result of China’s dominance (97% trade) in them.
The Environmentalist push to reduce US dependence on Foreign crude as major ralling point for anti-oil industry cripling legislation from oil production to processing in favor of clean energy pursiuts.
Never mind that majority of US oil actually comes from neighbors Canada & Mexico or South American Brazil & Venzuela ….. not Mid East. And never mind whatever painful economic environmental reductions are extracted from an efficient US emission system, are complety overwhelmed by the Kyoto exempted emissions from China who is now worlds largest polluter.
And now we see that China has been allowed to achieve dominance in one of the key Clean Energy (& Traditional as well) dependent sectors – Rare Earth metals. The lone supplier in US/Western World – Molycorp probably isn’t being watched for foreign takeover either (similar to US lone Titanium metal producer TiMet who is now foreign owned despite exposure for US air & space industries).
Instead of allowing China to use its dominant Rare Earth position as US negotiating point – it should become a major issue on China’s lack of adherence to any WTO free trade regulations that rest of developed world is held to and another reason for pulling / resending full WTO status to China.
Regards
