{"id":284317,"date":"2023-10-21T14:02:04","date_gmt":"2023-10-21T12:02:04","guid":{"rendered":"https:\/\/climatescience.press\/?p=284317"},"modified":"2023-10-21T14:02:08","modified_gmt":"2023-10-21T12:02:08","slug":"copper-the-new-oil","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=284317","title":{"rendered":"Copper, \u201cThe New Oil\u201d?"},"content":{"rendered":"\n
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Critical materials for energy: aluminum, cobalt, copper, dysprosium, electrical steel, fluorine, gallium, iridium, lithium, magnesium, natural graphite, neodymium, nickel, platinum, praseodymium, silicon, silicon carbide and terbium.<\/em><\/strong><\/p>\n\n\n\n

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From Watts Up With That?<\/a><\/p>\n\n\n\n

Guest \u201cThere\u2019s copper in them thar hills<\/a>\u201d by David Middleton<\/p>\n\n\n\n

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Copper Is Critical for America\u2019s New Energy Economy<\/h3>\n\n\n\n

By Andy Kireta, Jr.<\/a>
October 18, 2023<\/p>\n\n\n\n

The U.S. Department of Energy\u2019s (DOE) new designation of copper as a critical material<\/a> follows the lead of the EU, China, Japan, and others<\/a> in labeling the metal as critical \u2013 and shows copper is on the cusp of a generational shift<\/a> from an everyday material to a geopolitically significant commodity.<\/p>\n\n\n\n

This new strategic importance stems from copper\u2019s criticality to a wide range of clean and renewable energy technologies, such as waste heat recovery and electric vehicles, which can reduce global GHG emissions by two-thirds. As a result, experts estimate copper demand is set to double between 2035<\/a> and 2050<\/a> as industries work to meet their climate goals.<\/p>\n\n\n\n

It is no wonder, then, that some are referring to copper as \u201cthe new oil<\/a>.\u201d <\/p>\n\n\n\n

[\u2026]<\/p>\n\n\n\n

The shift from a global economy built entirely on oil to a digitized and electrified future, with copper at its foundation, has already begun. If Washington wants the U.S. to lead this global shift, it must recognize copper as a critical material for the nation\u2019s future economic and national security.<\/p>\n\n\n\n

Andy Kireta, Jr., is the President and CEO of the Copper Development Association and the North American Regional Director of the International Copper Association. <\/em>RealClearEnergy<\/a><\/p>\n<\/blockquote>\n\n\n\n

The notion that we are transitioning from fossil fuels to an electrified future is nonsense. However, technological advances and government policies are increasing the demand for many mineral resources. This is having an effect on the mineral resource criticality matrix. Non-critical mineral resources are shifting towards becoming critical materials.<\/p>\n\n\n\n

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U.S. Department of Energy, Critical Materials Assessment 2023<\/a><\/figcaption><\/figure>\n\n\n\n

Critical Materials<\/h3>\n\n\n\n
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The Energy Act of 2020 defines a \u201ccritical material<\/strong>\u201d as:<\/p>\n\n\n\n