Global supply of rare earth elements could be wiped out by 2012

Global supply of rare earth elements could be wiped out by 2012: "The rare earth bubble is due to pop in 2012, potentially devastating the industries of western nations that depend on these rare elements.

What industries are those? The automobile industry uses tens of thousands of tons of rare earth elements each year, and advanced military technology depends on these elements, too. Lots of 'green' technologies depend on them, including wind turbines, low-energy light bulbs and hybrid car batteries. In fact, much of western civilization depends on rare earth elements such as terbium, lanthanum and neodymium."