Derf's Grotto

[fung_derf]

Ð.....Well, I've been saying this for a while now. The U.S. allowed China to come into our country and buy up many of the rare earth mines. Can't imagine why they allowed this?!!
Biden pushing for electric everything over oil will soon make the US dependent on China.

Government climate funding pushes private sector to make good on promises:
The Biden administration is starting to dole out billions of dollars for nascent climate industries such as battery metals. That is putting pressure on banks and investors to step up with additional funds to make good on their climate promises. The federal government granted about 20 producers of raw materials that power rechargeable batteries a total of nearly $3 billion. The goal is to kick-start a domestic supply chain for big auto makers and combat China’s dominance of battery materials. Additional infrastructure-bill funding is expected to go to upstarts and established companies in areas such as clean hydrogen, carbon capture and electric-vehicle charging in the months ahead. The flood of money and similar funding from governments in Europe and Asia has been structured to incentivize private investment and lending by reducing some of the risk of these young companies. Companies are on track to raise about $1 trillion in green and sustainability-linked bonds this year, down from a record of roughly $1.3 trillion last year, Dealogic data show. Banks say that as highly regulated financial intermediaries, they are limited in what they can do to increase green financing. WSJ.com