Nonfuel Minerals - The Fear of Shortages and the Search for Policies

As one of the largest producers and consumers of nonfuel minerals, the United States greatly influences mineral markets and trade worldwide. Historically, the country has followed a policy of relatively free trade in mineral commodities, encouraging consumers to search abroad for low-cost supplies, and producers to sell wherever the price is highest. Of course, there are exceptions, but overall public policy favors trade, allowing huge quantities of minerals to flow across the country's borders. In recent years, particularly as worldwide recession and depressed commodity markets have battered domestic mineral producers, a growing number of voices have called for a change in this policy, for more protection and greater domestic self sufficiency. Should such a change occur on a significant scale, it would have obvious, and serious, implications for every major mineral producing and consuming country. Even the modest movements toward protection over the last few years clearly demonstrate the potential of such a change to disrupt the existing economic and political relations among nations