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Fossil fuel companies are turning to rural communities for critical minerals, raising familiar hopes and fears.
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Published Jan 27, 2024 12:00 PM EST
For a long time, nearly everyone in Lewisville, Arkansas worked for the oil industry. DepositPhotos
This story was originally published by Grist. Sign up for Grist’s weekly newsletter here.
Remember a time when oil was the backbone of rural communities in the United States? Well, it seems that these communities might be about to experience a similar lifeline. A change is afoot in Lewisville, Arkansas and many are hopeful for what the future holds, and others remain wary of potential consequences.
ExxonMobil, accompanied by other companies, has set its sights on the region, specifically the Smackover Oil Formation, with plans to begin lithium production by 2027. This movement marks a significant shift for the town, with residents awaiting developments in cautious optimism that it could be the change they’ve been waiting for.
While the rush for natural resources is heating up, it’s also due to the growing demand for minerals needed in the green energy sector. The potential for this turnaround is significant, as the resources in Lewisville could supply a substantial portion of the world’s lithium.
Funding for domestic exploration and production efforts by the Biden administration is making this an appealing opportunity for fossil fuel companies. Given that these corporations have access to productive land and mining expertise from the oil and coal industry, it’s no surprise that they’re eager to seize the potential presented by the green transition. With investment coming in from various sources linked to the clean energy supply chain, the green transition is looking ever more promising.
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