Build some batteries

Well over a majority of the world's known lithium reserves are in South America, centered in Chile, Bolivia and Argentina. If the future of batteries is lithium, then those countries are sitting on a big pile of money. If the future of batteries goes in another direction, then few are going to invest in the process of extracting it and it's going to get a low price.

Understanding the lithium extraction can be a difficult and expensive process, it's still disappointing that none of these countries has decided to build the battery technology on their own. Waiting for outside firms to enter the market simply continues the cycle of dependency that exists in much of the region. This is a rare opportunity to build an industry in the region that uses local resources to manufacture a well developed product to world markets.

Bolivia has tried to find a middle route, insisting that any outside firm investing in local lithium must build a battery plant in the country and transfer the technological knowledge. It's a reasonable condition, but it's still waiting on someone else to help.

Take the risk, spend government R&D funds, build some batteries, create the domestic industry now rather than wait on some other country or corporation to come create it and profit from it. Outside firms should be allowed to invest in the industry, but waiting on them to do so shows a lack of initiative.

Let's be honest, the first batteries are likely to be bad. It's unlikely Chile or Argentina or Bolivia is going to match current technology in their first attempt. It's going to take years of developing the science and technology skills to bring the batteries to a level that they can be exported. However, it will be a worthwhile process to create the skills in the country. The risk is that the country will lose financially if they cannot pull it off. The potential gains are quite high if they do manage it.