Acclaimed Reuters reporter Ernest Scheyder reveals the trillion-dollar battle for the resources to power our future. Tough choices loom if the world wants to go green. The United States and other countries must decide where and how to procure the materials that make our renewable energy economy possible. To build electric vehicles, solar panels, cell phones, and millions of other devices means the world must dig more mines to extract lithium, copper, cobalt, rare earths, and nickel. But mines are deeply unpopular, even as they have a role to play in fighting climate change. These tensions have sparked a worldwide reckoning over the sourcing of these critical minerals, and no one understands the complexities of these issues better than Ernest Scheyder, whose exclusive access has allowed him to report from the front lines on the key players in this global battle to power our future. This is not a story of tree-hugging activists, but rather of industry titans, scientists, and policymakers jostling over how best to save the planet. Scheyder explores how a proposed lithium mine in Nevada would help global automakers slash their dependance on fossil fuels, but developing that mine could cause the extinction of a flower found nowhere else on the planet. A hedge fund manager’s attempt to resuscitate rare earths mining in California relies on Chinese expertise, exposing the paradox in Washington’s quest for minerals independence. The fight to end child labor in Africa’s mining sector is a key reason, supporters contend, to dig out a vast reserve of cobalt and nickel under Minnesota’s vulnerable wetlands. An international mining conglomerate’s plan to extract copper for electric vehicles deep beneath Arizona’s desert would destroy a Native American holy site, fueling tough questions about what matters more. In The War Below, Scheyder crafts a business story that matters to everyone. If China continues to dominate production of these critical minerals, it will have a profound impact on the geopolitical order. Beyond China, countries such as Bolivia, Indonesia, and the Democratic Republic of the Congo aim to wield their vast reserves of key minerals. There are no easy answers when it comes to energy. Scheyder paints a powerfully honest and nuanced picture of what is needed to fight climate change and secure energy independence, revealing how America and the rest of the world’s hunt for the “new oil” directly affects us all.
A FINANCIAL TIMES BEST SUMMER BOOK OF 2024 AN AMAZON BEST BOOK OF THE YEAR SO FAR FOR 2024 LONGLISTED FOR THE NATIONAL BOOK AWARD FOR NONFICTION, AND THE FT BUSINESS BOOK OF THE YEAR AWARD The trillion-dollar battle for the resources to power our future. Oil and gas defined the twentieth century. Now lithium, copper, cobalt, rare earths and nickel will define the twenty-first. The world is moving towards replacing fossil fuels with renewable energy. But building electric vehicles, solar panels, and millions of other devices requires digging more mines. Critical minerals are vital to many sustainable technologies, and the competition for them is intensifying. Nations which aspire to energy independence are ever more intertwined: a hedge fund manager's attempt to revive rare earths mining in California needs Chinese expertise, and international reliance on Africa's mining sector persists despite concern over child labour. Meanwhile, ecological dilemmas abound: a proposed lithium mine in Nevada would help global car manufacturers slash their dependence on fossil fuels, but developing that mine could cause the extinction of a flower found nowhere else on the planet. As investors attempt to predict how the geopolitics of resource extraction will unfold, this is a story of the industry giants, researchers, and policymakers at the forefront of the new energy wars.
Tough choices loom if the world wants to go green. The United States and other countries must decide where and how to procure the materials that make our renewable energy economy possible. To build electric vehicles, solar panels, cell phones, and millions of other devices means the world must dig more mines to extract lithium, copper, cobalt, rare earths, and nickel. But mines are deeply unpopular, even as they have a role to play in fighting climate change. These tensions have sparked a worldwide reckoning over the sourcing of these critical minerals, and no one understands the complexities of these issues better than Ernest Scheyder, whose exclusive access has allowed him to report from the front lines on the key players in this global battle to power our future.
A FINANCIAL TIMES BEST SUMMER BOOK OF 2024 AN AMAZON BEST BOOK OF THE YEAR SO FAR FOR 2024 LONGLISTED FOR THE NATIONAL BOOK AWARD FOR NONFICTION, AND THE FT BUSINESS BOOK OF THE YEAR AWARD The trillion-dollar battle for the resources to power our future. Oil and gas defined the twentieth century. Now lithium, copper, cobalt, rare earths and nickel will define the twenty-first. The world is moving towards replacing fossil fuels with renewable energy. But building electric vehicles, solar panels, and millions of other devices requires digging more mines. Critical minerals are vital to many sustainable technologies, and the competition for them is intensifying. Nations which aspire to energy independence are ever more intertwined: a hedge fund manager's attempt to revive rare earths mining in California needs Chinese expertise, and international reliance on Africa's mining sector persists despite concern over child labour. Meanwhile, ecological dilemmas abound: a proposed lithium mine in Nevada would help global car manufacturers slash their dependence on fossil fuels, but developing that mine could cause the extinction of a flower found nowhere else on the planet. As investors attempt to predict how the geopolitics of resource extraction will unfold, this is a story of the industry giants, researchers, and policymakers at the forefront of the new energy wars.
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