Thursday, March 9, 2023

Why The "Green Economy" Is Suicide for the USA and Europe

By Tim Gamble

The push is on to develop the so-called Green Economy of alternative energy, sustainable development, sustainable consumption, and low carbon emissions. This new economy is supposed to stop climate change, be much more environmentally friendly, solve resource scarcity, and be generally "fairer" to all peoples. Of course, the reality is that the green economy is a na├»ve and idealistic dream that will accomplish none of these things. In this article, I want to look at one (of many) particular reason the green economy is not a good idea, and in fact is the equivalent of national suicide for the USA and European nations: Rare Earth Metals. 

What are Rare Earth Metals

Rare Earth Metals, also called rare earth elements, are a set of 17 soft heavy metals with many applications in electronics, lasers, magnets and magnetic materials, certain engine types, batteries, and other industrial uses. Rare Earth Metals are especially critical to the green economy, alternative energy, and electrical vehicles. Experts agree that the need for Rare Earth Metals will skyrocket as we transition to the Green Economy. However, mining for Rare Earth Metals is extremely destructive to the environment, and many are toxic. Not exactly "environmentally friendly." 

But the real danger of Rare Earth Metals to the USA and Europe is not really their environmental problems, but rather their location. Take a gander at this chart:

World's Estimated Reserves of Rare Earth Metals:
  1. China - 44 Million Metric Tons
  2. Vietnam - 22 Million Metric Tons
  3. Russia - 21 Million Metric Tons
  4. Brazil - 21 Million Metric Tons
  5. India - 6.9 Million Metric Tons
By contrast, the United States only has an estimated 2.3 million metric tons of Rare Earth Metals. All the countries of Europe combined have less than 1.5 million metric tons, and that includes the large deposit discovered in Sweden's artic region earlier this year.

Implications

Notice something about where the world's reserves of rare earth metals are located? BRICS nations hold by far the largest reserves of Rare Earth Metals. For those who don't know, BRICS is an acronym for an association of developing nations (Brazil, Russia, India, China, and South Africa, with Saudi Arabia and the UAE currently in the process of joining) that stand as an economic rival the the US and Europe. BRICS recently called for replacing the US dollar as the world's reserve currency. 

China and Russia are no friends to the US or Europe. China, which holds more than 1/3 of the world's estimated 120 million metric tons of rare earth metals, has been engaging in a Cold War against the US and the West for a couple of decades now, although we stupidly pretend it isn't. Russia is currently engaged in an actual hot war in Europe. Brazil has drifted closer to Russia since last year's (stolen) election. India has not cooperated with Western sanctions against Russia, and has long been in a closer relationship with Russia than the West. Even the non-BRICS nation of Vietnam is not overly-friendly with the US or Europe. 

The new Green Economy is weakening the US and Europe, and strengthening our enemies, all while failing to achieve its goals. Yet, the powers-that-be seem hell-bent on forcing the transition, no matter what. It is, simply put, national suicide. 

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