Business

Republicans to introduce permitting bill rivaling Dem proposal: ‘Exporting our wealth to China and Russia’

House Republican leaders on Thursday will introduce licensing reform legislation that aims to strengthen the domestic critical supply chain of minerals and increase energy independence.

The Securing American Mineral Supply Chains Act, spearheaded by Bruce Westerman, R-Ark, Ranking Member of the House Natural Resources Committee, would streamline permitting and approval processes for hard rock mining projects across the country. Minerals such as lithium, cobalt, copper and nickel are vital to both clean energy and defense technologies, but are largely extracted and refined abroad.

“We’re blessed with those deposits here in the US and we just don’t develop them,” Westerman told FOX Business in an interview. “It would be one thing if we didn’t have these mineral deposits here in the US and we had to buy them from people like China, but the fact is we have the stuff we need here.”

“This ‘not in my backyard’ ideology that seems to be pushing the left is something where we need to change course,” he continued. “We can’t keep exporting our wealth to China and Russia.”

Read:$46 Trillion Wipeout Won’t End Until the Fed Pivots

TOP INDUSTRY GROUP HAS ALERT ABOUT THE FUTURE OF GREEN ENERGY: ‘NOW HAS BECOME A CRISIS’

A 70,000-acre mine in northern Nevada is pictured. (Hycroft Mining Holding Corporation)

Westerman’s bill — which Cathy McMorris Rodgers, R-Wash., Ranking Member of the House Energy and Commerce Committee, co-sponsored — would designate one federal agency to coordinate mining permits, set approval time limits, roll back existing mining permits ban, new research to boost domestic production and instruct the Department of Energy to build a strategic uranium reserve that will reduce Russia’s reliance on the element.

The legislation broadly aims to reduce uncertainty for companies and investors involved in mining projects.

DOZENS OF REPUBLICANS DEMAND BIDEN ADMIN’S PLAN FOR NATIONAL POWER CRISIS

“You have mining jobs and you also have further processing,” Westerman said. “The bill addresses obstacles that prohibit jobs in both areas.”

“We’re already doing mining better than anywhere else in the world, but we want to stay ahead and refine those techniques in mining and processing.”

Read:Humana, Other Potential Buyers Circle Cano Health

Aerial view of the largest mining pit in the world with deposits of 84 types of minerals on September 27, 2020 in Fuyun County, China. (Shen Longquan/VCG via Getty Images/Getty Images)

However, China mines about 55% of global mineral resources and refines as much as 85%, according to a White House supply chain report last year. In comparison, the US mined only 6% of global copper supplies, 5.7% of global zinc supplies, 0.67% of global nickel supplies, 0.4% of global cobalt supplies, and 0% of global graphite supplies last year.

Onerous permitting procedures and environmental assessments, backed by Democrats and green groups, have prevented the country from increasing mineral resources, Westerman and industry groups said. The Biden administration has withdrawn approval or introduced roadblocks for major mining projects in Alaska, Arizona, Minnesota and Nevada since taking office, citing several environmental and wildlife conservation efforts.

TEXAS POWER CRISIS UNDERLINES GREEN ENERGY UNRELIABILITY, EXPERT SAYS: ‘GET USED TO MORE BLACKOUTS’

Natural Resources chairman Raul Grijalva, D-Ariz., and Senator Martin Heinrich, DN.M., introduced legislation in May that would tighten restrictions on mining, despite their individual support for clean energy and the green transition from fossil fuels. fuels. The bill was supported by several environmental groups that also support green energy efforts.

Read:Bitcoin (BTC) Is Primed for a Bullish October Based on One Metric, According to InvestAnswers
House Natural Resources Committee Chair Raul Grijalva, D-Ariz., makes a closing statement at a House Natural Resources Committee hearing on Capitol Hill in Washington, DC, on June 29, 2020. (Photo by BONNIE CASH/POOL/ AFP via Getty Images)

House Natural Resources Committee Chair Raul Grijalva, D-Ariz., speaks at a hearing on June 29, 2020. (Bonnie Cash/Pool/AFP via Getty Images/Getty Images)

“If you go back and look at the Build Back Better Act — the same bill that they said we needed to electrify everything and move away from fossil fuels, build electric cars, and they had all these incentives to decarbonize the electric grid,” Westerman told FOX For Business. “That same bill included provisions such as closing the Resolution Copper mine in Superior, Arizona, which could supply 20% of U.S. demand for copper over the next 50 years.”

“They would spend $350 million in taxpayers’ money to close a mine in which $2 billion has been invested,” he added.

CLICK HERE TO READ MORE ABOUT FOX BUSINESS

Meanwhile, Senate Natural Resources Committee chairman Joe Manchin, DW.Va., unveiled his own licensing bill Wednesday night that would seek to accelerate energy projects, including fossil fuel infrastructure. Manchin said the bill would be incorporated into government funding legislation that Congress must pass by the end of the month to avoid a shutdown.

However, dozens of Democratic lawmakers led by Grijalva have announced their opposition to the bill.

Previous post
Montgomery County Sheriff’s Office seek public’s assistance to find three theft suspects – WHIO TV 7 and WHIO Radio
Next post
Anatoly Gerashchenko: Russian aviation expert is latest official to die in mysterious circumstances