Lithium Demand Could Triple by 2025. Does the World Have Enough?
It seems difficult to believe now, but it wasn't that long ago the world was worried about "peak oil." That was the name given to concerns that the planet's petroleum production would eventually dwindle as readily accessible supplies were exhausted. The fears made sense in the context of the time. In 2005, the United States met 60% of its petroleum demand through imports. A few years later, the price of a barrel of oil hit its all-time peak at over $145.
Of course, the context is very different today. Shale production technologies have created a world awash in oil. In September 2019, the United States exported more petroleum products than it imported for the first time since records began. Crude oil trades at less than $54 per barrel.
Energy investors may no longer be concerned about Peak Oil, but they've found new sources of anxiety. As the world begins to electrify ground-based transportation, demand for lithium is set to soar virtually overnight. Lithium demand could triple from 2019 levels by 2025. Will the world be able to cope with shifting consumption?
Source Fool.com
