News out recently that the Trump Administration is imposing a new copper tariff may have come as a surprise to some, but it shouldn’t have. Regardless of who is in the White House, our access to important minerals like copper, a critical resource for clean energy development, depends on a delicately balanced supply chain that can be disrupted by an array of geopolitical or economic considerations. However, this announcement put a bright spotlight on the need for onshoring critical mineral production across America to help meet the rapidly growing energy demand.
For some, critical mineral development is wrought with hand-wringing and reflexive opposition by those who ignore the strength of our nation’s environmental protections and stringent regulations. What needs to be considered in greater detail, however, are the economic and energy security implications of turning a blind eye to fully bringing this production online in the U.S.
Take for instance, the fact that the demand for copper is expected to double by the year 2030. Or the fact that copper plays a vital role in the nearly six million line-miles of our electric grid, as well as manufacturing for a number of energy components. As we figure out ways to double power generation in the U.S., we’ll inevitably need more power lines, and obviously more copper. However, supply will fall 30% short of the amount required by 2035, according to the International Energy Agency.
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