Yes REE are important, but unlike oil and gold, there is a virtually limitless supply. They are difficult to refine, and the process can be very bad for the environment, which is why most countries were happy to get of China. It is only the short term supply that is in doubt, when projects like ALK get up they can make as much as there is demand. A few years ago the REE were a nasty waste product to get rid of for ALK.
REE price could easily go up a lot, it is a one off in the production and not a consumable like power and fuel, so not so bad to factor in price. Demand is also increasing. I think countries/companies will want to guarantee their supplies, so more production needed, with less economic mines will also push price. So in 10-50 years I don't think REE supply will rule the world ... But those mines in early like ALK will have a good stable long term income, and be able to respond faster to any increase demand than new producers.
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