How Electric Cars Are Destroying Nigeria's Oil Economy

Africa’s largest producer of oil recently announced plans to transition away from its reliance on oil and go big on lithium. [Outsider Club Header] Oct 25, 2023 by Jeff Siegel for the Outsider Club How Electric Cars Are Destroying Nigeria's Oil Economy I recently told you what Elon Musk said about lithium. He called it the “new oil.” And, boy, was he right. Last week, Nigeria — Africa’s largest producer of oil — announced its plans to transition away from its reliance on oil and go big on lithium. Moreover, government officials are implementing stricter mining laws to ensure that foreign companies don’t take their lithium without adding value to the country. Here’s what Dele Alake, Nigeria's minister of solid materials, had to say: I want to emphasize the fact that the era of exporting raw solid minerals from Nigeria is over. Any company wishing to come and invest in the solid minerals industrial sector in Nigeria henceforth must add local value. According to German news outlet Deutsche Welle, mining companies that want to get into Nigeria’s lithium game must adhere to new licensing requirements that show proof of business plans that will benefit local communities. Companies that are unwilling to provide such proof will not be granted licenses. The Nigerian government knows just how valuable its lithium reserves are, just as it knows how valuable its oil reserves are. The Nvidia Killer Is Here Artificial intelligence could have already made you a millionaire... Because back in 2013, researchers from Stanford University built the "world’s largest virtual brain" with Nvidia chips. This single event marked the beginning of the chipmaker’s reign as the "King of AI." You could’ve raked in 12,035% gains had you bought Nvidia shares when this story became public. That’s enough to turn a $9,000 stake into more than $1 million. But there’s no reason to beat yourself up for missing out on this life-changing opportunity. Today, you have a second shot at six- or even seven-figure gains... Because there’s [a new player in town...]( One that’s set to dethrone Nvidia. This under-the-radar company from California is about to release an AI chip that’s superior to Nvidia’s technology. We’re looking at a 100x performance boost. Access to this kind of chip is still highly restricted. The U.S. Air Force is one elite client that was allowed to use it early. But soon it will be available to the mainstream... And if you position yourself BEFORE this chip reaches the mass market, you could turn every $1 into $120... Just like early Nvidia investors did. Keith Kohl just published a brand-new presentation on this unique opportunity. [Get the full story here while there’s still time.]( More than half of Nigeria’s revenue comes from oil exports. Those exports also account for 90% of the country’s foreign-exchange earnings. So as you can imagine, Nigeria is heavily reliant upon consistent global demand. However, Bloomberg data now indicates a peak in global demand for road fuels in 2027. That’s just a little over three years from now. This doesn’t bode well for any oil-producing nation. That isn’t to say Big Oil is in danger of going gently into that good night. However, Nigeria relies on oil to cover more than half of its revenue, and the government knows that demand for oil will start to wane in just three–four years. So to ensure the country’s economy doesn’t deteriorate as oil demand peaks and then eventually begins to taper off, Africa’s largest economy is preparing for the inevitable transition to electric vehicles by developing its lithium resources. This is a smart move, to be sure. China has already sunk its meat hooks into Nigeria’s bounty of lithium, but in terms of reserves, what Nigeria has is nowhere close to what the U.S. has, thanks to a recent lithium discovery in California that holds enough lithium to satisfy the needs of all electric car makers in America for the next 100 years. And the value of that supply is massive. There's $322 Billion Worth of Lithium in Northwest Alberta...Why Can't Anybody Touch It? For more than 40 years, an oil company has been working a 671-square-mile chunk of northwestern Alberta, producing its lifeblood using brine that’s kept in hundreds of massive storage ponds. These storage ponds have long been known to contain a massive lithium resource, totaling an estimated 4.3 million tons. Just recently a tiny Vancouver-based technology company, founded and headed by petrochemical industry veterans, figured out a way to extract the lithium from this brine, very quickly and very efficiently. So efficiently, in fact, that the company can filter this oil field brine, returning it to the pond after processing, with a better than 95% capture rate. Production of salable lithium will cost between $3,000 and $4,000 per ton, while market rates price lithium at $70,000 per ton. They know where the lithium is, they know how to extract it, and, as of now, they have an agreement in place to work this giant lithium-rich property. Commercial production is now projected to be in place by the middle of 2024, with buyers already lining up. [Interested? Enter here to learn more.]( We’re talking nearly half a trillion dollars' worth of lithium from this one region. In terms of lithium finds, it’s the most valuable in the world, and not just because of its size but also its location. As I noted last week, the U.S. government has mandated that 40% of critical minerals found in EV batteries will have to be domestically sourced or come from countries with which the U.S. has free trade agreements. And in less than three years, that percentage is expected to rise to 80%. The U.S. is one of the fastest-growing markets for electric cars. In fact, by 2030, more than half of all new car sales in the U.S. will be electric. While I certainly won’t trivialize the value of Nigeria’s lithium reserves, from an investment perspective, I’m putting my chips on the company developing this massive reserve in America, which, by the way, is now being called the "Saudi Arabia of lithium." Between federal mandates on domestic lithium production and the rapid demand for electric cars in the U.S., it’s just a no-brainer. That’s why I put together [this investment note]( explaining just how big this deposit is and, of course, the company that’s developing it and will ultimately monopolize the domestic lithium market. So unless you hate money, I’d encourage you to [get a piece of this action for yourself right now](. To a new way of life and a new generation of wealth... [Jeff Siegel Signature] Jeff Siegel [[follow basic]Check us out on YouTube!]( [[follow basic]@JeffSiegel on Twitter]( New U.S. Lithium Discovery Could Revolutionize Global Markets (Buy This $3 Stock) A huge lithium deposit has been discovered on the Oregon-Nevada border. This new reserve holds an estimated 44 million tons of lithium, much more than the global leader, Bolivia, whose reserves only total 23 million tons. Lithium is essential in everything from EVs to smartphones... And given the fact that China controls a whopping 70% of the global lithium market... This discovery has the potential to catapult the U.S. to the forefront of the global lithium market... While the newfound discovery is groundbreaking, the real game-changer is the lithium innovation coming from a $3 company. [This small firm’s lithium achievement could turn a $500 investment into a staggering $39,915 for those who act swiftly.]( Because this team of 65 engineers created a method to produce top-grade lithium in the U.S. — on demand. All without mining a single ounce of it! Despite its low stock price, this company has secured deals worth $985 MILLION with major automakers and battery producers. And revenues for this firm are set to skyrocket! The global demand for lithium is exploding, and this small stock's value could soar by 10, 20, or even 30 times in short order. Yet, due to its small market cap, many investors are unaware of its existence. This offers you the golden opportunity to get in on the ground floor BEFORE it captures the media spotlight and makes early investors incredibly rich. [Learn more here before it's too late.]( Today’s article was originally published by our sister publication [Energy and Capital](, which is solely dedicated to helping readers profit from the ever-expanding and ever-changing energy sector. If you would like to receive daily free email investment letters from the editors of Energy and Capital, [simply click here.]( Follow the Outsiders [YouTube]( This email was sent to {EMAIL}. You can manage your subscription and get our privacy policy[here](. Outsider Club, Copyright © Outsider Club LLC, 3 E Read Street Baltimore, MD 21202. Please note: It is not our intention to send email to anyone who doesn't want it. 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