President Biden continues to struggle to secure the supply chains in America as he pushes his green energy revolution.
However, theres one problem he hasnt found a solution to yet: there arent enough workers willing to help secure the raw materials he needs.
The Washington Examiner says, Since 2016, mining graduations have dropped an additional 39% in the United States, according to a recent analysis from McKinsey and Company, while a similar report from Deloitte found the majority of the mining workforce over the age of 46, with half of all skilled engineers reaching retirement age in the next decade.
Mining companies report experiencing what is referred to as a talent squeeze. Leaders in the industry say its hard to find the talent they need and even more challenging to retain. This is especially difficult for certain positions that require specific skills, such as mine planning and process engineering. Unfortunately, leaders say they expect the problem to continue. That doesnt look good for Bidens agenda.
President Biden has thrown out almost $100 billion in loans, incentives, and grants to help production surge as he strives to help America make its own electric car batteries and semiconductors. However, the administration is aware of the workforce shortage.
One official said that mining production is at an all-time high. Another statement points out that mining projects continue to move forward despite a shortage.
Forecasters see one more problem with Bidens agenda, which theyve not spoken about yet. Theres a common copper shortage looming. Copper is necessary for the energy transition that America is shooting for. Its needed for things like electric car batteries and solar panels. To up production, prices must increase to provide the funding and enticement for new mines to get more copper. However, as with everything, theres only so much copper, and the industry doesnt have a lot of slack. They seem to be putting the cart before the horse for the massive energy transition they want to see happening.
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