You raised some good point there, however what US is trying to do not just get away from fossil fuel but they are taking lead to support more renewable use (in general, which you would expect from democrats), however actual impact on different "renewable industry" will take time to be realised in my opinion. In my opinion support from the legislation first help offset increased cost pressure and will actually stimulate individual "renewable industry" once inflation starts to be under manageable (below 4%) and stays there for a quarter period at-least in my opinion. Obviously hard to define how long will be this "Time".
"lithium" as an industry is not just limited to US but it goes beyond US. Though it is fair to say that inflation is taking over almost every country but demand for "lithium" vs "supply" in short to medium term will remain until actual impact of inflation is felt to day to day people in my opinion. Again there will be lag between when people start controlling their spend & when Interest rate start to rise in my opinion. Companies that are involved in "lithium" related industry whether they are raw material, processing industry, traders or users (batter/EV/other items) will see high prices which they will obviously try to pass on and it will only comes to stop when actual recession starts in developed world in my opinion. At this moment there are talk about recession and prediction about it going on but actual recession where unemployment goes up and maintained quarter on quarter in upward direction will make start of feeling pain and that will then goes back to businesses in my opinion... and again how long the "time" will be in this process is hard to predict in my opinion.
What Americans trying to do is avoid this recession scenario or touch pass it by increasing rates at every review in my opinion. In last minutes they said they aren't done yet so time will tell how fast they go and how economy of different country (including US) reacts to it. Obviously WAR in Russia is another situation that could change equation but if they continue fighting without nuke or something more sinister then this situation simply going to drag in my opinion.
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