The electric car industry is facing a looming supply shortage

“Lithium is the new oil,” goes the saying in electric vehicle (EV) circles.

If you haven’t heard the catchy maxim, it means that new-age batteries made from elemental lithium are the energy world’s “in-thing.” By extension, a tank of gasoline containing a cocktail of carbon and hydrogen atoms is passé.

Think back to the early 1900s: It’s like an oilman wearing spats and a fedora walking into a cowboy bar saying, “Oil is the new horse hay.”

Fast forward to today: I’m a believer that lithium-ion batteries are going to power a lot of cars going forward. It’s a nascent trend that’s just getting started.

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