The Weekly Wrap: October 29, 2010
Rare earth watch. The escalating, month-long log jam in the Chinese export of rare earth elements may have come to a close. Keith Bradsher of the New York Times reports that Chinese customs officials this week began allowing shipment of the 17 minerals and metals — essential in the manufacture of hybrid cars and wind ...
Rare earth watch. The escalating, month-long log jam in the Chinese export of rare earth elements may have come to a close. Keith Bradsher of the New York Times reports that Chinese customs officials this week began allowing shipment of the 17 minerals and metals -- essential in the manufacture of hybrid cars and wind turbines, in addition to a range of other high-volume consumer products. The cutoff coincided with a confrontation between China and Japan last month over a group of islands. This does not bring an end to the global trouble -- India, Kazakhstan, Mongolia, the United States, and elsewhere plan to start providing alternative sources of the elements, but it will take years to scale up such operations. Meanwhile, the price of the metals has soared.
Rare earth watch. The escalating, month-long log jam in the Chinese export of rare earth elements may have come to a close. Keith Bradsher of the New York Times reports that Chinese customs officials this week began allowing shipment of the 17 minerals and metals — essential in the manufacture of hybrid cars and wind turbines, in addition to a range of other high-volume consumer products. The cutoff coincided with a confrontation between China and Japan last month over a group of islands. This does not bring an end to the global trouble — India, Kazakhstan, Mongolia, the United States, and elsewhere plan to start providing alternative sources of the elements, but it will take years to scale up such operations. Meanwhile, the price of the metals has soared.
BP’s Dudley on the attack. BP’s new CEO, Bob Dudley, expressed his unhappiness with rival companies and the media, which he said rushed to judgment while stirring up unnecessary fears after the April explosion at the company’s Gulf of Mexico Macondo drilling operation. (A PDF of the speech is here.) But while Dudley is not thrilled with the company’s rough treatment, more problems arose as a U.S. presidential investigative commission issued a report saying that both BP and Halliburton knew weeks before the accident that cement used to seal the well wasn’t stable. Halliburton issued a statement raising questions about the report.
Build it and they will come? J.D. Power doesn’t think so, at least as regards hybrid and electric cars that are about to flood the market. The market research company says that such vehicles will account for 7.3 percent of global sales by 2020. J.D. Power says that cost will be a major factor in holding down the sales — regardless of government subsidies, the cars still cost more than gasoline-driven models. That’s cold water on the plans of GM and Nissan, who are releasing the Volt and the Leaf, respectively, next month in the U.S.
More from Foreign Policy
Can Russia Get Used to Being China’s Little Brother?
The power dynamic between Beijing and Moscow has switched dramatically.
Xi and Putin Have the Most Consequential Undeclared Alliance in the World
It’s become more important than Washington’s official alliances today.
It’s a New Great Game. Again.
Across Central Asia, Russia’s brand is tainted by Ukraine, China’s got challenges, and Washington senses another opening.
Iraqi Kurdistan’s House of Cards Is Collapsing
The region once seemed a bright spot in the disorder unleashed by U.S. regime change. Today, things look bleak.
Sign up for Morning Brief
Foreign Policy’s flagship daily newsletter with what’s coming up around the world today. Delivered weekdays.
By submitting your email, you agree to the Privacy Policy and Terms of Use and to receive email correspondence from us. You may opt out at any time.
