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Goldman Sachssounds the alarm bells on tightness in the global copper market

· Goldman Sachsanalyst: We're going to run out of copper by mid-year

Alongwith today's release from the SPR, the White House announced that it wouldauthorize the use of the Defense Production Act for green metals. That willhelp cut through red tape and get projects underway.

Earliertoday, Goldman Sachs analyst Nicholas Snowden was talking in Santiago, Chile andsounding the alarm bells about a looming copper shortage.

He saidthat at some point the supply shortage "becomes so compelling that youcan't sit on the sidelines and watch prices continue to rise."

He notedthat trading volumes had dried up recently because of the madness in nickel,something he suspected will reverse soon.

Copper"is under priced and cannot remain at $10,000 per ton or we're going torun out of copper by the middle of this year," he said. "We have toreprice higher and it has to come extremely soon."