U.S. focus on green energy transition is working and silver continues to be the biggest beneficiary - Bank of America BankofAmerica greenenergy silver
- Next month the U.S. will celebrate the one-year anniversary of the passage of the Inflation Reduction Act, and according to analysts at Bank of America, its impact on the economy is already evident.
According to the research, prices could remain well-supported for the next ten years, with Bank of America seeing silver as the precious metal with the most significant supply deficit as the U.S. establishes itself as the leader in green technology and the global center for electric vehicles. "Did you know, a typical EV needs six times the minerals of a conventional automobile and building an onshore wind plant requires nine times the minerals that would go into a gas-powered installation? According to our Global Commodity Research analysts and Metals & Mining analysts, the IRA's energy transition incentives are set to boost demand for the critical minerals used in batteries as well as for steel, which is needed for onshore and offshore wind as well as solar," the...
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