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Why A Looming Copper Shortage Has Big Consequences For The Green Economy


Original article: https://www.youtube.com/watch?v=6LBC8ntzgIA
Burgess COMMENTARY

Peter Burgess
Why A Looming Copper Shortage Has Big Consequences For The Green Economy

771,861 views ... Jul 30, 2021

CNBC 2.46M subscribers

Copper prices have surged in 2021. The base metal remains in high demand, much thanks to its need in green energy projects and electric cars. In May 2021, commodities analysts at Goldman Sachs called copper ‘the new oil.’ That’s because electric cars need several times more copper than their gas-powered counterparts. And power grids getting electricity from wind, solar and hydro sources also need copper—much more than the industry is currently producing. Here’s how copper became so important to the world economy and the green energy revolution.
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