The United States is so dangerously dependent on rare-earth elements — substances vital to smart phones, fighter jets, laptops, and rocket engines, to name only a few high-tech applications — that it may be setting itself up for another bout of painful extortion similar to the OPEC oil embargo in the 70s, industry experts warn.
This year, global consumption of rare-earth materials is expected to be about 155,000 tons. That's more than triple what it was just 25 years ago.
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