The New Oil

Benchmark Mineral Intelligence looks at how the oil industry is developing closer ties to the lithium supply chain.

It is important to state that lithium is nothing like oil. It’s not liquid, or black, it’s rarely shipped in barrels, and it’s not even a source of energy. Lithium carbonate equivalent (LCE) is a 215,000 tonne per year market while oil is a 34 billion barrels a year market - the resources are measured differently. The figure for oil is so large that is typically measured daily, which was 93 million barrels every day in 2017.

In 2017 . . .

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