Lithium, Powering the Future!

According to the USGA, demand for lithium destined for battery usage
is predicted to grow by 20% per year!

Lithium will lead the charge to green energy. Presidential Candidate, Barack Obama said that (my) "Number one priority when I get into office (will be) finding the new driver of our economy... There’s no better driver that pervades all aspects of our economy than a new energy economy."

The development of lithium battery technology is pivotal to President Obama’s energy plan. Environmentally friendly lithium batteries will be an important part of the solution to America's oil dependence as well the issue of global warming.

To that end, the president has signed a $790 billion economic stimulus plan that includes $5 billion for the development of a domestic battery industry including:

• $2 billion in loans, grants and tax credits to help stimulate the development and large-scale domestic production of advanced, lithium-ion batteries for hybrid and electric cars.
• Up to $2.4 billion in tax credits for building battery plants.
• Another bonus included is a $7,500 tax credit for people who purchase plug-in hybrid cars, which will indirectly boost lithium-ion battery production.

Demand for lithium will skyrocket as more and more hybrids roll down the assembly line. But current U.S. capacity to mine and process lithium is very limited, making supply vulnerable and subject to market speculation.

To make the future success of Obama’s Energy Revolution dependent on offshore suppliers and risk the same foreign dependence as with oil, is unthinkable.

That is why it is essential that America develop its own plentiful lithium resources now.