Rare-earth materials used in wind turbines, solar panels and clean-energy products are “at risk” of being disrupted and the U.S. should reopen mines to assure a steady supply, an Energy Department official said.
U.S. President Barack Obama ’s administration will propose that consumers receive a $7,500 tax credit for electric cars at the dealership, reducing the sticker price, an Energy Department official said.
The U.S. must diversify sources of rare earths, needed for electric cars and wind turbines, to cut dependence on a few overseas producers, said David Sandalow , assistant Energy secretary for policy and international affairs.
Japan’s Nikkei 225 Stock Average fell for the first time in four days, as machine makers slid after China’s central bank increased interest rates. Toyota Motor Corp. advanced after raising its profit forecast.
President Barack Obama travels today to the construction site for a battery factory to defend his economic stimulus program, as polls show the U.S. public isn’t convinced of its success and is wary of a growing deficit .