1. Defense Production Act doesn’t modernize permitting for critical minerals
Invoking the Defense Production Act to increase U.S. production of critical minerals may be a small step, but doesn’t solve the root problem — the need to modernize permitting.
Critical minerals including lithium…nickel…graphite…cobalt…manganese, are hardly produced in the U.S. today.
Current permitting and siting regulations make critical mineral production and clean energy infrastructure development difficult.
What’s clear: When it comes to critical mineral production, the U.S. has not just fallen behind — we’re almost nowhere to be found. In order to ensure a reliable supply of American-sourced critical minerals, our federal permitting process must be streamlined and modernized.
Oxy’s subsidiary 1PointFive aims to tackle carbon emissions in hard-to-decarbonize sectors through development of CCS hubs throughout the U.S.
Weyerhaeuser’s new Natural Climate Solutions business is focused on various emissions-reduction projects from mitigation solutions to conservation.
Plug in: European aerospace company Airbus recently purchased 400,000 tonnes of carbon removal credits from 1PointFive’s planned direct air capture facility — another important milestone for Oxy’s emissions-reduction goals.
3. Nuclear, critical minerals as energy market solutions (The Economist)
Unrest in the global energy market and rising gas prices are prompting a market response. As the U.S. and other nations cut reliance on Russian fossil fuels, The Economist highlights how increased demand for critical minerals and nuclear power could give them a chance to shine.
Both public and private clean energy solutions are already on the rise:
French and British governments have committed to expanding their nuclear capacities.
Tesla and Canadian mining company Barrick have struck critical mineral supply deals with New Caledonia and Pakistan respectively to support their energy innovations.
What’s clear: Nuclear has the opportunity to play a significant role in bolstering clean energy economies in the U.S. and worldwide as global energy markets remain unstable.
Plug in: Our CEO Rich Powell appeared on Just the News this week to discuss the benefits of nuclear energy in the U.S. and around the world.
Russia is currently the only commercial supplier of HALEU, which is needed by the next generation of nuclear reactors — Marketplace dives into the role of domestic HALEU amid global conflict.
4. ICYMI
The Nuclear Regulatory Commission (NRC) is proposing a budget of $929.2 million for FY23, and $23.8 million will be for developing regulatory infrastructure for advanced reactors.
