Latin America Advisor
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How Will Lithium Shape U.S.-Chilean Economic Relations?
U.S. Treasury Secretary Janet Yellen recently commented during a tour of Chile that U.S. demand for lithium would bring the two nations closer. // File Photo: White House.
U.S. Treasury Secretary Janet Yellen said last month that growing demand for lithium would significantly increase U.S. imports from Chile over the next several years. Following meetings with President Gabriel Boric and Economy Minister Mario Marcel, Yellen told reporters that demand for clean energy alternatives may generate more than $3 trillion in global investment opportunities over the next 26 years and that deepening U.S.-Chilean economic ties would be key to achieving climate goals and U.S. energy security. How large a role will lithium play in Chile’s economic future and the nation’s relationship with the United States? What policies should Boric pursue in order to develop the lithium industry in Chile and what potential hurdles stand in his way? How will lithium play into Chile’s geopolitical significance for the United States and other major economic world powers?
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Jennapher Lunde Seefeldt, associate professor of government and international affairs at Augustana University: “Boric’s reworked lithium strategy has the potential to benefit Chile, the United States, and global access to lithium. The plan upholds existing contracts without expropriation and emphasizes public-private partnerships (PPPs) in new projects. Boric’s plan does not shut the industry off from international investment, but should in fact encourage it. This allows Albemarle and others to continue exploration and extraction. Boric offers stability and clarity to Chile’s vision for industry development, which has long been notoriously unstable and confusing. This is good news for …”
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A sister publication of the Inter-American Dialogue’s daily Latin America Advisor, the weekly Energy Advisor captures fresh analysis from business leaders and government officials on the most important developments in oil and gas, biofuels, the power sector, renewables, new technologies, and the policy debates shaping the future of energy in the Western Hemisphere and beyond. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.
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