Re: Give it 5 years and there will be a rare earth glut
Spot on. People react quickly to profits & prices, but what happens is that SO many people will react that the manufacturers will use less or alternates, while producers will mine everything to get it ... and soon there is a glut on the market.
It was ever so. Anyone else remember the OPEC embargos of the 70s? All the non-OPEC nations started pumping out all they could because the prices of oil and gas went up. What's more, the members of the OPEC cartel did the same, though they had signed an agreement not to. In addition, the price initially went up so people cut back uses where they could ... and, well, see above.
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