EVs - What Are We Looking at Today?

Last month, Joe Biden signed the so-called inflation reduction act as really a climate bill with a big component of electric car and battery funding in it. That is the US saying we're in the race. We're going to compete with China. So we're in big geopolitics. It's the equivalent. When I was on the Caspian Sea, when I was in the stands, the big thing was pipeline politics. You could have oil in the ground, but that's worth nothing unless you can get it to the market. The equivalent today of a pipeline is metals processing. Almost all batteries and almost all metals that make those batteries do something are made or processed in China.