Oil is no longer an energy security challenge as critical minerals take center stage, Saudi minister says

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1. The energy minister of Saudi Arabia – the Gulf kingdom whose wealth and power rests disproportionately on its vast petroleum reserves – believes that oil is no longer an energy security challenge.

   Instead, he said, the coming battle will be for entirely different materials buried under the ground: critical minerals.

   “Oil is no longer an energy security challenge – it’s going to be gas, electricity, predominantly minerals,” Saudi Energy Minister Abdulaziz bin Salman told attendees at the annual Future Minerals Forum in Riyadh.

   The energy minister was referring to minerals critical to the energy transition and advanced technologies – including lithium, cobalt, nickel, graphite, manganese and other rare earth elements crucial for making things like electric vehicles, batteries, renewable energy technology, computers, and household goods.

   China currently controls roughly 60% of the world’s production of rare earth minerals and materials, according to a recent report by Rice University’s Baker Institute for Public Policy. That has many countries, particularly those in the West, concerned, as these resources become ever more important to national security and economic stability.

   More: [https://cnb.cx/4alx7qE](https://cnb.cx/4alx7qE)

2. Saudi Arabia Publicly announcing this? Damn we must we way further in the energy transition than we believe. They know its almost over

3. I don’t disagree with this sentiment I’m just floored that it’s the Saudis expressing it

4. So don’t worry about OPEC

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