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United States Senator, State of Alaska
Chairman, Senate Energy and Natural Resources Committee
Preface from OurEnergyPolicy In the time since our November 2019 critical minerals discussion, COVID-19 has decimated global supply chains. Factory shutdowns in China, which accounts for 40–50% of the global wind power supply chain, have caused supply shortages of wind turbine components and massive financial losses, threatening current U.S. projects. China’s outsized market share is also affecting the solar market, although some analysts say a U.S. tariff on imported solar panels may have blunted the impact. “If coronavirus has shown us anything, it’s that we are far too reliant on China and other countries for key minerals like… [more]
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Travel and business slowdowns across the world, in response to the novel coronavirus (COVID-19) pandemic, have caused a sharp decrease in global oil demand and the lowest oil prices in 17 years. On March 5, members of the Organization of the Petroleum Exporting Countries attempted to reach a deal that would extend the current 1.5 million barrels per day (MB/D) production cut in an effort to shore up prices. The talks failed, however, when Russian and Saudi energy ministers were unable to reach an agreement. Russian officials subsequently announced significant increases in their production levels, with Saudi ministers following suit… [more]
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