Batteries are the new oil — and the U.S. is lagging behind Europe and China in the race to make them.
Why it matters: The historic shift to electric vehicles will give the U.S. a fresh chance to achieve energy independence, but it will require complex strategic moves that won’t pay off for years.
The big picture: Most of today’s advanced batteries — not only to power cars and consumer electronics but also to store clean energy — are sourced in Asia.
Last month, Biden invoked the Cold War-era Defense Production Act -I guess Canada has a shot at a traditional role as hewers of lithium for the US Market or perhaps the future is Balkanized state production as the article suggests.
