🛢️ Bolivia seeks to create OPEC-like lithium cartel with Latin American neighbors to capitalize on the electric vehicle and renewable energy boom ⚡️ Plan faces opposition from environmental and indigenous groups 🌿 LithiumOPEC EVBoom
. The idea is part of a broader initiative to form an OPEC-like cartel to collectively boost these countries' bargaining power. ,"We must be united in the market, in a sovereign manner, with prices that benefit our economies, and one of the ways, already proposed by President Andres Manuel Lopez Obrador, is to think of a kind of lithium OPEC." at 21 million tonnes, according to the US Geological Survey.
President Are wants to industrialize Bolivia's lithium before the end of his term in 2025 but remains cautious of the potential geopolitical implications that it may bring. Analysts, including Geopolitical Monitor's Arman Sidhu, believe the plan will likely face opposition from environmental and indigenous groups that contributed to left-wing victories in Chile, Argentina, and Brazil. He also warned of additional obstacles, including China's potential unwillingness to have its dominance in the industry undermined.
Supporters argue that developing a lithium industry in Latin America could boost the region's economies, particularly as demand for electric vehicles and renewable energy grows., controlling a significant proportion of the world's supply of the metal.
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