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Date: 2024-05-19 Page is: DBtxt003.php txt00021155


Why A Looming Copper Shortage Has Big Consequences For The Green Economy

Original article:

Peter Burgess
Why A Looming Copper Shortage Has Big Consequences For The Green Economy

771,861 views ... Jul 30, 2021

CNBC 2.46M subscribers

Copper prices have surged in 2021. The base metal remains in high demand, much thanks to its need in green energy projects and electric cars. In May 2021, commodities analysts at Goldman Sachs called copper ‘the new oil.’ That’s because electric cars need several times more copper than their gas-powered counterparts. And power grids getting electricity from wind, solar and hydro sources also need copper—much more than the industry is currently producing. Here’s how copper became so important to the world economy and the green energy revolution.
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Copyright © 2005-2021 Peter Burgess. All rights reserved. This material may only be used for limited low profit purposes: e.g. socio-enviro-economic performance analysis, education and training.