One of the biggest names in mining is expecting a mining boom.
Friedland said politicians who talk about transitioning from fossil fuels to low-carbon energy and transportation don’t really understand the magnitude of the transformation they are touting.
“They’re talking about arresting climate change,” Friedland said. “They’re talking about eliminating the burning of coal and hydrocarbons without any idea, really, of what this is actually going to take.”
Electrifying transportation “is all a huge fraud,” he said, if the system that produces, distributes and stores the power isn’t also emissions-free.
Again it is back to the heads I win, tails I win even bigger scenario I have outlined in the past. Politicians do not have a clue but are making mandates on green energy and an energy transition to electricity from fossil fuels. I expect that the materials that will be needed for this are going to soar in price over the next few years.