The lithium market has been very hot and more bulls are making their voices heard. One such new bull is Goldman Sachs (GS), which recently put out a report suggesting that lithium is the “New Gasoline.” Putting aside the fact that this is coming from the same company calling for $200/bbl. oil a few years back we think this claim is: Misleading with respect to the role lithium plays in a (H)EV. Based on optimistic assumptions derived from extending historic trends into the future. Lithium is Not A Source of Energy! Lithium is not a source of energy! It is a material essential for electricity storage in Li-Bs, but it is agnostic as to the energy source. Oil is typically not used to produce electricity, but other fossil fuels–coal and natural gas–are, while proposed alternatives cannot come close to competing with these electricity sources on cost. On the other hand gasoline
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