watch nowIn the meantime, copper customers, in anticipation of shortages, are either delaying clean energy projects or reducing their need for copper, an economic principle known as demand destruction.
Among other actions, it would dismantle most of the clean energy projects initiated by the Biden Administration.
At that point, the consensus was that there would be a major copper supply response.
That's presented the industry with a whole new era of copper demand, Adkerson said.
China's economy has slowed, while those in the U.S. and Europe are striving to transition to clean energy.
Persons:
Wood Mackenzie, Nick Pickens, we've, we're, Tesla, eyeing, Rishi Sunak, Richard Adkerson, he's, Adkerson, That's, Clayton Walker, Matt Murphy, Murphy, Walker
Organizations:
Polska Miedz SA, Bloomberg, Getty, EV, P, International Energy Agency, Heritage Foundation, Republican, Biden Administration, Phoenix, Resources, Freeport, Afp, Rio, Barclays, Rio Tinto, Caterpillar
Locations:
Glogow, Poland, Wood, EVs, McMoRan, Freeport, China, U.S, Europe, Papua, Freeport's Indonesia, Rio Tinto, Mongolia, Salt Lake City , Utah, Indonesia, Rio