I have a related question: Does this mean the top lithium-producing countries[0] will experience an economic boom, similar to oil producers in the '70s, or is lithium abundant enough in the US and China to satisfy future demand?
The lithium prices may experience continue to increase, but lithium is highly abundant. It won't help the "countries" that much. The US and china has tons of lithium and so do many countries across the world. But most likely, lithium prices may start to decline if the US/Russia/China/etc who have most of the world's lithium decide to start mining seriously.
Certainly well connected mining companies might do well also. But lithium isn't oil. Oil is the basis of modern civilization. It is in pretty much every product you use and every industrial process. Even battery companies will use tons of oil and oil byproducts to create lithium batteries.
Oil and lithium batteries aren't comparable. One is foundational, the other is really a convenience.
Yes, there was an article about this in last week's Economist. Bolivia, Argentina, and Chile are the top 3 lithium countries. Due to the politics of Bolivia and Argentina, Chile is the best positioned to take massive advantage of it.
Certainly well connected mining companies might do well also. But lithium isn't oil. Oil is the basis of modern civilization. It is in pretty much every product you use and every industrial process. Even battery companies will use tons of oil and oil byproducts to create lithium batteries.
Oil and lithium batteries aren't comparable. One is foundational, the other is really a convenience.