Posted on 06/04/2022 2:54:25 PM PDT by elpadre
President Biden has tucked another $500 million to fund production of the minerals used to make batteries for electric cars into the Ukraine aid bill passed by Congress.
Both Biden and Ukrainian leaders had said that the $40 billion emergency aid package was essential for Ukraine's war against Russia. But tucked into that package was not only military aid but half a billion dollars to be allocated under the Defense Production Act to companies obtaining critical battery minerals like nickel, cobalt, lithium and graphite, Bloomberg first noted.
That's in addition to the $750 million the Defense Department (DOD) was authorized to dole out to mining companies in March when Biden first invoked the Defense Production Act for critical minerals.
Those funds also build on the $7 billion in federal funding from the bipartisan infrastructure bill last year that companies are now vying for to bankroll the refining, manufacturing and recycling of electric vehicle batteries.
The $40 billion Ukraine aid bill included $20 billion to fund direct transfers of advanced weapons systems to Ukraine, $8 billion in general economic support, $5 billion to address food shortages across the globe and over $1 billion in support for refugees, in addition to the $500 million for mineral production. The bill passed 86 to 11 in the Senate.
The Pentagon has so far only handed over about $700 million of that package in military assistance to Ukraine.
Biden is forging ahead with subsidies for electric vehicles even without his Build Back Better bill, which fell apart due to inflation concerns.
Build Back Better had included $320 billion for clean energy, but talks petered out as inflation started to rise. Now with inflation higher than it's been in 40 years at 8.3 percent, Biden has been taking heat from both sides for his loose spending
(Excerpt) Read more at dailymail.co.uk ...
They did not mention 10% to the big guy. Shame how that works.
Funny thing about the fast charging stations for EVs. There’s no regulation on how much they can charge for rates. Consequently, they hose them down. If they can afford 100,000 +$ cars, they can pay whatever we want to charge them is the thinking. Monday morning I’ll be looking at CHPT (chargepoint stock) as an investment. I may as well profit on this too.
Republicans refuse to impeach this Demented Potato, so here we sit watching the nation spin down the toilet.
They’re obsessed with the batteries they know it’s the weak part ,they’ll need 1.5 billion of them just to replace the vehicles that are on the road right now ,LOL
When they can’t make all those batteries they’ll try to electrify the road , South Korea is working on it ,LOL
“Republicans refuse to impeach this Demented Potato, so here we sit watching the nation spin down the toilet.”
So you are a Kamala fan? sarc/
I’m no expert here, but it may help to keep China from cornering the mineral market and putting pressure on us.
After we dumped Afghanistan and their lithium reserves.
I’m no expert here, but it may help to keep China from cornering the mineral market and putting pressure on us.
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The vegetable head Biden shot himself in the foot not realizing Russia’s reverse sanctions on the west severely injured us, Russia has the world’s largest supply of commodities, metals, etc….Vlad’s refusal to sell the west what we need is severely effecting our aviation, defense and manufacturing industry.
Question is did vegetable head weaponizing the dollar and sanctions done by ignorance, or designed specifically to harm us?
….and Vlad says CHECKMATE, again.
Still wondering what the greenies are going to use for tires.
Just remember that only 11 senators voted no to this & in The House people like Jim Jordan voted also for it. Now some say that this will change after the mid terms . How does that happen when we have half of all states usuing those corrupt voting machines?
Access to minerals for EV batteries was lost when we pulled out of Afghanistan.
Yet they stop private industry from mining them here in the US.
Frickin’ insane.
“$5 billion to address food shortages across the globe”
WHAT?!?
Speechless.
Didn’t know Hunter was into the precious metals world.
European Lithium secures Ukranian lithium deposits
What a coinkydink.
From a couple of months ago...
Neither would I.
Hunter already sold the Cobalt Mines to China Joe,too late
Biden is forging ahead with subsidies for electric vehicles brownouts and blackouts increase at same ratio blames Putin.
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