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The Big Switch: Are Batteries the New Oil?

Catalyst with Shayle Kann

NOTE

Magnitude Difference: Oil and Gas vs. Critical Minerals Trade

The global oil and gas trade is significantly larger than the critical minerals trade. Even on a net-zero pathway, the demand for critical minerals is much smaller in comparison to oil and gas production. While revenue from critical minerals is projected to grow, it still remains a fraction of the revenue generated by the oil and gas industry. The scale of the global oil and gas sector surpasses that of critical minerals, necessitating more mining activities and global trade in critical minerals to support the transition to a clean energy economy.

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