Thursday, July 12, 2012

House vote today on crucial rare earth mining bill

The House is expected to vote today on the National Strategic and Critical Minerals Production Act, H.R. 4402, which will ease the approval process for mining rare earth minerals. Demand is up for them and the Chinese are blocking the export of them. These minerals have countless industrial applications, including many related to national defense. Over the last few years, America has been become more dependent on foreign sources for them.

This bill does not open a permanent express lane for domestic mining concerns, but instead, it offers assurances that the permit process for new permits is not bogged down by government interference.

The anti-traditional energy and anti-mining White House opposes the bill, which has bi-partisan support. If this legislation passes with an overwhelming majority, that will likely decrease the odds of an Obama video.

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