By Andy Gordon on July 25, 2022
Everybody is worried about soaring oil prices. But I’ve been watching another resource that’s in high demand: lithium. Its price has shot up 434% year over year, leaving oil in the dust. Users are beginning to panic. In April, Elon Musk tweeted that lithium prices were hitting “insane levels.” “Tesla might actually have to get into the mining & refining directly at scale, unless costs improve,” he said.