INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.
Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Greg Reimer, President & CEO, Surge Battery Metals.
On a recent Price of Business show, Host Kevin Price visited with Greg Reimer of Surge Battery Metals.
“With a nod to President Woodrow Wilson’s sentiments about the American Revolution, it’s clear that America’s Green Energy Revolution is ‘a beginning, not a consummation,” says Greg Reimer, President & CEO, Surge Battery Metals, (NILI: TSX-V), (NILIF: OTC) a pure-play lithium company focused on its flagship project Nevada North Lithium Project in Elko County who previously served as Canada’s Deputy Minister of Energy, Mines and Petroleum Resources.
“With the political and economic imperative to decouple from China’s economy, the United States and other geopolitically friendly nations must provide the raw materials for the industrialized world’s green energy revolution,” says Reimer who served as Executive Vice President of Transmission and Distribution for BC Hydro, British Columbia’s electric utility serving 4 million customers with $5.5 Billion in annual revenue.
“With the political and economic imperative to decouple from China’s economy, the United States and other geopolitically friendly nations must provide the raw materials for the industrialized world’s green energy revolution,” says Reimer who served as Executive Vice President of Transmission and Distribution for BC Hydro, British Columbia’s electric utility serving 4 million customers with $5.5 Billion in annual revenue.
US Leads Global Market for Clean Transportation
President Biden’s Investing in America agenda focuses on lowering transportation costs for consumers and empowering American car companies. Laurel Blatchford, Chief Implementation Officer for the IRA, emphasizes how this policy allows consumers to reduce the upfront cost of clean vehicles and aids car dealers in expanding their businesses.
Collaboration & Expedited Permitting
Reimer advocates for collaborative efforts between governmental authorities and miners to expedite permitting, ensuring America’s access to an ample supply of lithium and the vital role of the clean vehicle tax credit initiative
With 400 new battery metals mines needed to meet electric vehicle demand by 2035, with the onus on the United States to ramp up mining of lithium on an expedited timeline. “Rather than continue to burn fossil fuels at a record rate or be at the mercy of China and buy electric vehicles with ‘Made in China’ labeling, it’s time for America to fully commit to its goal of energy independence on an expedited timeline. We need more lithium mines tomorrow, not a generation from today,” says Reimer.
“Government mining agencies carefully weigh the interests of all the stakeholders involved in each mining project. to ensure that environmental rights are respected. So do mining companies. This includes the assurance that no indigenous archaeological sites are damaged or destroyed wherever mining projects are underway. It also involves the protection of lands that some indigenous people consider to be spiritually sacred,” says Reimer.
EV Car Sales Strong
All-electric car sales in the United States continue to increase at a strong clip, outpacing the general car market. “A record 1.2 million U.S. vehicle buyers chose to go electric last year, according to estimates from Kelley Blue Book with 1,189,051 new electric vehicles (EVs) put into service. Experian/Automotive News registration data reports that the total number of Battery Electric Vehicle (BEV) registrations during the first eight months of 2023 were 754,811, 64% higher than a year ago, and about 7.3% of the total market, up from 5% at that time in 2022.
With the U.S. government planning to end purchases of gas-powered vehicles by 2035, downstream end users will soon be entirely dependent on the guaranteed long-term availability of steady supplies of lithium carbonate (battery-grade lithium).
Lithium’s future is Green
Benchmark Intelligence forecasts price stability in 2024 but that the “lithium market balance remains fragile” with “only a single major project delay throwing this narrow surplus into a deficit.” Benchmark “estimates the market will return to deficit from 2028, with prices expected to react 12 months ahead of the deficit emerging. They expect the deficit to reach 390,000 tons in 2030 and 1,900,000 tons by 2040.
The current reverses in lithium pricing “provides a good buying opportunity for lithium stocks as demand growth over the next decade should support long-term prices, according to Wilsons Advisory with BloombergNEF projecting global demand for lithium to grow nearly five times by the end of the decade.
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