Most people have no idea what rare earth elements are, but a wide array of the technologies that we use every single day are dependent on them. Without rare earth elements, we would have no hybrid car batteries, flat screen televisions, cell phones or iPods. Without rare earth elements, the entire “green economy” would not be able to function, because almost all emerging green technologies use them. Not only that, but rare earth elements are used by the U.S. military in radar systems, missile-guidance systems, satellites and aircraft electronics. Without rare earth elements, the U.S. military (and militaries all over the globe) would not be able to function. There are 17 key rare earth elements that we rely on every day. But there is a huge problem. China owns more than 85 percent of the known global reserves of rare earth elements. Right now, the rest of the world is absolutely dependent on China’s exports of these metals. Without these Chinese exports, the western world would quickly run out of these precious resources. But in just a few years, the rapidly expanding Chinese economy will gobble up the entire domestic production of Chinese rare earth elements. So what will the rest of the world do at that point?
This is a major problem that you aren’t hearing a lot about in the mainstream news.
But analysts are now predicting that by 2012 this could be a tremendous crisis.
So exactly what are rare earth elements?
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