The Age of Big Shovels by Daniel Yergin
The pursuit of net-zero emissions by 2050 could face significant obstacles due to a shortage of crucial minerals. The International Monetary Fund (IMF) warns that the soaring demand for these minerals could lead to increased costs that may disrupt or delay the energy transition. Governments, international organizations, and companies are increasingly concerned about the potential bottleneck caused by a lack of crucial metals required for decarbonization. The rising demand for minerals, particularly copper, lithium, cobalt, and nickel, is already evident and expected to triple in the next seven years, according to the International Energy Agency (IEA). However, meeting this demand will be challenging, as it takes years to develop new mines. While shortages and high prices may drive recycling, innovation, and substitution, these solutions may not adequately address the issue.
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Frequently Asked Questions
Q: What is 'The Age of Big Shovels'?
'The Age of Big Shovels' is a book written by Daniel Yergin that explores the impact of large-scale machinery on various industries and economies.
Q: Who is Daniel Yergin?
Daniel Yergin is a renowned author and energy expert who has written extensively on global energy issues and their economic implications.
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