Daniel Yergin is perhaps the most famous oil man, think-tanker and historian around. If so, then he has done the country a great service by raising these important concerns about the United States’ growing dependency on China for essential minerals. In the recent conversations, Yergin emphasized an increasing sense of urgency in the U.S. The country is hell-bent on developing supply chains that don’t require Chinese support. This urgency is rooted not only in the strategic imperative of gaining access to important resources that are critical to the world’s technological supply chain, medicina.
Aside from Tallett, Yergin’s cultural insertion is especially prescient because he is arguably the world’s leading expert on energy economics. He underscored the fact that China is dominating the world market for minerals, particularly copper. This hegemonic power poses severe threats to the U.S. Copper is the lifeblood of most applications on which this country is now bet, from electrification to data centers, to robotics, to your cellphone, and to our defense technology.
The implications of this mineral dependency only grow starker in our current geopolitical climate. Maritime nations are upgrading to new and smarter infrastructure, improving their innovative technology. With it, the demand for copper and other critical minerals is through the roof. Yergin’s comments highlight the pressing need for the U.S. to identify new routes of supply. This will improve our economies and societies while mitigating the danger of being overly dependent on any one nation.
Through his historical lens, Yergin goes deep into how this pursuit of independence one day may reconfigure international relations and trade policy. He argues that the U.S. must not only seek to protect its interests but foster partnerships with other nations rich in minerals. By diversifying its supply chains, the U.S. can achieve technological leadership while strengthening economic and national security.
Additionally, the production of copper supply has recently gained renewed legislation as industries turn to electrifying and automating. With a transition to renewables and a future with more electrified vehicles, we’ll need a lot more copper. Given its critical role in these innovations, securing access to this mineral is increasingly becoming a focus for economic policymakers.
Yergin’s perspective highlights the expensive economic reality of what mineral supply chains entail beyond just resource extraction. He warns that countries endowed with mineral riches have become powerful players in global markets. As this trend underscores, there is greater urgency than ever for strategic U.S. engagement.
