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Why A Looming Copper Shortage Has Big Consequences For The Green Economy
Posted
July 30, 2021
Views
896,498
Likes
14,087
Comments
1,991
Engagement
1.79%
July 30, 2021
896,498
14,087
1,991
1.79%
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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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Why A Looming Copper Shortage Has Big Consequences For The Green Economy
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