Yahoo Finance The new oil? How demand for copper could reshape the world
Numerous metals have been hawked as “the next oil,” but veteran energy analyst Daniel Yergin says only copper represents the lynchpin of the transition away from fossil fuels.
This week, on Down to Business, Yergin explains why “copper is the basic metal of electrification,” and how it will reshape geopolitics.
Two countries, Chile and Peru, control an estimated 38 per cent of global supply, according to a 122-page report that Yergin and a team of analysts at S&P Global released earlier this month.
The report found that world copper production will need to double by 2035 in order to meet emissions targets and Yergin believes a looming gap between available supply and rapidly rising demand will cause price shocks and could short-circuit the energy transition.
Listen on Apple Podcasts, Spotify, Stitcher and YouTube where you can also subscribe to get new episodes every Wednesday morning.
If you have any questions about the show, or if there are topics you want us to tackle, email us: downtobusiness@postmedia.com.
• Email: gfriedman@postmedia.com | Twitter: GabeFriedz
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