To combat China's dominance in critical minerals, the Department of Energy is proactively funding dormant US resource companies. It provides a 'startup package' including an equity check, an expedited permit, and a guaranteed offtake agreement with a floor price to de-risk and fast-track projects.
The next major bottleneck for AI, electrification, and defense is not chips, but copper. To meet baseline GDP growth projections—excluding upside from data centers and green energy—the world needs to mine the same amount of copper in the next 18 years as it has in all of human history.
Despite perceptions, the cost of generating electricity has remained relatively stable or even decreased in real terms over the past 20 years. The significant inflation in consumer electricity bills comes from the antiquated and underinvested transmission and distribution grid required to get power to homes and businesses.
The celebrated economic growth of the 2000s, driven by asset-light companies like Google and Meta, had a hidden cost: the US dismantled and offshored its critical physical infrastructure. This 'capital-light mentality' created massive supply chain fragility, now exposed by geopolitical conflicts and driving inflation.
The supply-demand imbalance for silver, critical for solar panels, is acute. The world consumes 1.2 billion ounces annually but supplies only 1 billion, creating a 200 million ounce deficit. With only 600 million ounces of above-ground inventory left, the world is on track to stock out in three years.
The physical footprint for green energy is vastly underestimated. Due to solar's low capacity factor, a single 1-gigawatt AI data center would require 5 gigawatts of solar generation. This translates to 35,000 acres of land, an area larger than the city of San Francisco, highlighting a massive hidden constraint.