Earth to Washington: The free market offers practical solutions for “going green.” Private entrepreneurs will literally fly to the moon to solve the U.S. technology crisis while government initiatives to support green technology fall flat.
The set of 17 rare elements known as “rare-earths” is integral to normal technology like iPads, fiber–optic cables and military equipment as well as “clean” technology like wind turbines, solar panels and electric batteries.
The U.S. used to lead the world in mining rare-earths through a California mine called Molycorp. However, environmental regulations sent this mine into extinction and the U.S. lost her competitive technology advantage. Today, years later, Molycorp is slowly re-building after meeting stricter U.S. environmental standards.
Since the U.S. stopped mining her own resources, China now calls the shots on rare-earths. The Chinese government and organized crime circles within China run pollution-hissing mines that churn out roughly 97 percent of the global rare-earth supply. High demand for rare-earths within the Chinese marketplace, environmental issues and political leverage are factors leading China to cut back on exports. Consequently, rare-earth prices are skyrocketing.
As hall of fame quarterback and former Minnesota Viking Fran Tarkenton told the St. Paul Pioneer Press on Nov. 24, 2010, “In my life, when I tried to have a quick fix to something, it turned out worse than it was before.” Unfortunately, many U.S. politicians see government intervention in clean tech as the quick fix to energy independence, job creation, and a cleaner environment.
Government clean tech programs for solar panels, wind turbines and electric batteries ironically support China’s dirty rare-earth mining at unsustainable costs. A single “utility-scale” wind turbine requires 661 lb. of the element neodymium, GM’s Chevy Volt needs 7 lb. of magnets made from rare-earths and the price of the iPod-essential rare-earth called dysprosium has jumped from $6.50 to $130 per lb., according to TIME Magazine.
The New York Times reports that mining rare-earths is complicated by the fact that most elements are only produced as byproducts of mining something else, such as copper. Furthermore, extracting rare-earth elements releases significant amounts of low-level radioactive waste into the environment.
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