Last night [in Spain -TN], the new electricity bill came into force. Although the Green Deal is already being felt in the general price increase, this is the first direct move that ties the energy transition to the loss of workers’ purchasing power. It is sold to us as a price drop made possible by renewables. In reality it is quite the opposite.
The green transition is already paving the way for new wars. Current mineral production plus that in the pipeline is incapable of supplying the raw material demand of the energy transition. According to the International Energy Agency, by 2030 the production capacity calculated by then will only be able to supply 80% of the critical minerals and 50% of the copper demanded by the Green Deal. By 2040, the strain will be even worse: the demand for critical minerals will have quadrupled. What will large national capitals do along the way to secure the sources needed to supply their most valuable industries?