I'm not talking about Gil Bridges and Ray Monette of the rock band Rare Earth, noted for such hits as "Get Ready" and "I Just Want to Celebrate," although that does make a sort of poetic sense. The band is back together and touring, after all.
No, I'm talking about world domination by China of an industry so important, it's success or failure may mean the difference between survival and mass evacuation in low-lying countries like Bangladesh.
Much of the clean energy industry depends upon extremely obscure elements that have come to be known as rare earth. They have names like lanthanum, cerium, yttrium and neodymium and are used in the manufacture of electric car batteries, wind turbines and solar panels. China has spent the past several years locking up supply of these elements, planning ahead and banking on their value escalating.
And the stakes are high. The recent study, "Energy Policy," by Stanford University professors Mark Delucchi and Mark Jacobson says wind, water and solar could supply all of our energy needs in 20 to 40 years. While that may be unlikely given today's energy mix, the sector is sure to increase despite the domination of increasingly costly and damaging fossil fuels.
Rare earth elements, while relatively abundant in the Earth’s crust, are hard to find in "minable concentrations," as the U.S. Geological Survey explains in its 2010 rare earth report. Thus the problem -- and the name.
China, according to USGS, has reserves of 55 million metric tons, while the United States has 19 million metric tons. Both countries dominate known reserves. However, China is better positioned to take advantage of its mines.
