Even a (D) Senator gets it!
American businesses are finding it easier to do business with the ChiComs than with the American government to get these minerals. Democrat Sen. Bob Casey of Pennsylvania writes that China is leveraging its position (and the Obama administration’s regulatory hostility to mining) to hold a monopoly.
How does China maintain its control over rare earth elements? For one thing, it controls production. The only mine currently producing rare earths is based in China. They also ensure that most of the supplies remain in China by deliberately limiting exports through strict quotas and stiff duties. These illegal measures operate to chill exports and drive global prices through the roof.
--Gateway quoting the Hill
Let me repeat: dump 20% of the FedGov staff from the payroll, along with the regulations they enforce.
Screw this bunch of micro-despots (and their godfather, Obozo).
Maybe you should do some homework on the matter, rather than put your Obama-hater on autopilot.
ReplyDeleteThe Obama Administration granted approval to this rare earth metals mine. There is also another one in Wyoming.
www.guardian.co.uk/environment/2010/dec/26/rare-earth-metals-us
www.smartplanet.com/blog/business-brains/largest-rare-earth-metal-mine-in-us-back-open-for-business/16498
So, these two sources contradict your GatewayPundit claim that the Obama Administration has been a hindrance in this PARTICULAR mining endeavor.
The mining of such rare earth metals, however, takes ENORMOUS amounts of capital. Simply put, investors have been unwilling to put forth the required money for his highly intensified and dangerous process that has clear-cut environmental implications.
technorati.com/politics/article/rare-earth-elements-not-so-rare/
Indeed, spurring domestic production for the mining of rare earth metals probably means that companies are seeking subsidies from the government. Probably not a good idea in your book, eh, Dad29, even if China has a current stranglehold in this market?
Indeed, as the World Trade Organization seeks to rectify the complaint brought forth by the United States and other countries regarding China's "monopoly" on rare earth metals, scientists are seeking alternatives, which is spurring innovations and job creation.
news.nationalgeographic.com/news/energy/2012/03/120330-china-rare-earth-minerals-energy/
"As a consequence, today American manufacturers struggle with ever-escalating costs of production, compromising the ability of American companies to compete and create jobs."
ReplyDelete...cost, of which, strategic dollar devaluaton can more than offset. This is a trade imbalance problem not so much a cost of production probem. How big do you think those "stiff duties" would have to be if the PRC let the Yuan appreciate vs. the dollar or, conversely, the dollar was intentionally devalued vs. the Yuan?
Simply put, investors have been unwilling to put forth the required money for his highly intensified and dangerous process that has clear-cut environmental implications.
ReplyDeleteGee, that's not the case in PRChina. Could there be a difference in Gummint regs and permitting?
Such hard questions, such easy answers.
spurring domestic production for the mining of rare earth metals probably means that companies are seeking subsidies from the government
And you KNOW this because....?
scientists are seeking alternatives
Goodie. In the meantime, we'll move back to dirt hovels.
Scientists are also seeking cold fusion and the formula which turns lead into gold.
Reopening the mine in the US is such an urgent need, even the Obummer Admin knows it needs to happen... We have seen price inflation of upwards of 400% . And these elements are needed for all that alleged "green" technology.
ReplyDelete"Gee, that's not the case in PRChina. Could there be a difference in Gummint regs and permitting?"
ReplyDeleteIf you cared to read the links, you would realize that the federal environmental regulations for rare earth metals are stringent for a reason--the ores are chemically complex and commonly radioactive. In other words, they leave radioactive wastes, just like uranium mining. Big-time expenses there!
However, in my research I further discovered that under the Obama Administration (so it is happening, neomom), with bi-partisanship support, has passed a series of laws that proposes subsidies and loans through a comprehensive rare earth metals policy to spur development...so that's how I know!
www.fas.org/sgp/crs/natsec/R41347.pdf
You see, few people know how to do this type of mining and process. The research and development costs are staggering. So while Chinese corporations are currently in control of the market due to government assistance, the South African, Australian, and Malaysian governments are also seeking to gain market share and a competitive advantage by providing incentives to businesses. American companies are seeking financial considerations in order to be on a similar global footing.
Furthermore, the American businesses in China (AND foreign companies) are actually becoming turned off by the Chinese government's refusal to share technology and protect intellectual property rights. So they are willing to come back home.
The history of rare earth metal policy is more complex and nuanced than your standard "Blame Obama" campaign.
www.pittsburghlive.com/x/pittsburghtrib/news/s_720470.html
"Scientists are seeking alternatives..."
"Goodie. In the meantime, we'll move back to dirt hovels."
Again, did you read the links? The alternatives have shown promise. The alternatives have spurred economic development.
Thanks, Anonymous, for doing the work.
ReplyDelete