2 days ago
Administration’s budget overlooks need for minerals in energy technology
In last week’s FY2013 budget proposal, President Obama called for the continued development of advanced energy technologies including wind, solar and electric vehicles. Conversely, that same budget includes two sizable new taxes on minerals mining, and effectually threatens the production of the raw materials vital to the advanced energy sector.
In its “Critical Materials Strategy 2011” report, the U.S. Department of Energy highlighted the increased demand for key minerals in energy applications. The department advised that the United States should take steps to facilitate the domestic extraction, processing and manufacturing of critical minerals—a recommendation the administration doesn’t seem to be following.
Policymakers must recognize that next-generation energy technologies would not be possible without mineral components, and that additional hurdles imposed on domestic mining will translate into material supply challenges for U.S. manufacturers of energy technologies.
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