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The Energy Forum, Inc. is dedicated to fostering public understanding of energy issues including the energy market and industry and of the many challenges facing them in a rapidly changing world. Its regular public lectures and discussions on a variety of relevant topics provide a collegial platform where industry and academic experts, business leaders, policymakers, students, journalists and others can exchange information and ideas about energy issues and interact with one another in a non-partisan environment.
Rare earths and the high performance magnets they make have long been a major supply chain vulnerability for the US electric vehicle and offshore wind turbine industries. That vulnerability was thrown into sharp relief in April when China introduced export restrictions on certain rare earth materials and magnets, driving up prices for what little material is already stockpiled outside China. The US government is now showing more willingness than ever to support the development of a US rare earth supply chain, with July’s groundbreaking deal between the Department of Defense and MP Materials. So is the US now finally on course to break its reliance on China for these critical materials, or will rare earths remain a vulnerability in the years ahead? What are the implications for energy transition?