FYI
Taken from another thread entitled 'OFF WE GO'
Decarbonisation policies could see battery metals rival the oil and gas industry, with the IMF saying a Net Zero by 2050 scenario would more than quadruple the revenues generated by copper, nickel, cobalt and lithium companies over the next two decades. In a special feature of the latest World Economic Outlook by the International Monetary Fund, IMF analysts say under ambitious climate reduction targets the battery metals complex could generate around US$13 trillion in revenue between now and 2040. That would rival the oil industry and fall just US$6t short of the fossil fuel sector as a whole, signalling a radical shift in the industrial might of base metals producers. Between 1999 and 2018 fossil fuel companies amassed a collective US$70t in revenue, against just US$3t for copper, nickel, lithium and cobalt, most of it by companies mining the red metal. “In the Net Zero by 2050 emissions scenario, the demand boom would lead to a six fold increase in the value of metal production — totalling $12.9 trillion over the next two decades for the four energy transition metals alone, providing significant windfalls to producers,” the IMF’s report authors said.“ This would rival the potential value of global oil production in that scenario. ”The IMF says price shocks caused by the rapid pace of change required in a Net Zero by 2050 scenario could see them “reach historical peaks for an unprecedented, sustained period.”
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