superrific
Legend of ZZL
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Rare Earths are going to be the new oil.
Saudi Arabia has always faced something of a tightrope: they want to sell their oil at high prices, obviously, but if prices get too high they invite more drilling or companies to build alternatives to fossil fuels (e.g. EVs). So their strategy has been, over the years, to yo-yo oil prices. They raise them for a few months or a year, and just when people start talking about weaning from foreign oil, they lower the prices again.
This is a six month reprieve by China. Same pattern, I think.
Saudi Arabia has always faced something of a tightrope: they want to sell their oil at high prices, obviously, but if prices get too high they invite more drilling or companies to build alternatives to fossil fuels (e.g. EVs). So their strategy has been, over the years, to yo-yo oil prices. They raise them for a few months or a year, and just when people start talking about weaning from foreign oil, they lower the prices again.
This is a six month reprieve by China. Same pattern, I think.