Skip O'Neill – Liberty for All

Ron Paul for A New Direction

China is cornering the market on rare earth elements

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You may have heard that China has the market cornered on rare earth elements and is holding them hostage to countries like Japan. Japan absolutely requires them to create many of the sophisticated electronics that many of us take for granted. Things like large transformers that support the power grid are manufactured oceans away from where they are needed. If there were ever a large EMP or solar flare the United States would go back to a pre-industrial age overnight and as it sits currently we would have to rely on China to get the lights back on. The rub is that China would struggle to feed it’s 1.3 billion people if it weren’t for US food production. Many countries that depend on staple food importation would see Biblical style famine in the event that the massive legion of cargo ships stopped running. Disruptions in the Middle East oil supply would be devastating to the global economy as we, here in the US, only source about half of our liquid fuel domestically.

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Written by opinionoregon

November 5, 2012 at 5:22 pm

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