mr. mcgroarty. >> thank you. my thanks to the committee for the opportunity to testify this morning. i am the principle of carmot strategic group and issues management firm based in washington, d.c. strategic resources are core elements of my practice. my advisory company include taxes resources, graphite one, american agonies, done and capital management, working to develop new source of metals ranging from copper, graphite and worth but i consoled for the institute of defense analysis. the views expressed today are my own. the committee asked a single question as interpol and and that's where i will start. the near-term outlook for the commodity markets can be summed up in a single word, bleak. we heard about the collapse in the price of oil, the same is generally true for commodity prices. look at five key industrial minerals. in the past tigers aluminum is down 36%. led 35. zinc down 40. coppertone 55. nickel down 64. this is not as if commodity cycles are novel. at econ 101. the market is self-

mr. mcgroarty. you said the outlook is bleak when it comes to our, our mineral, critical minerals and particularly with our rare others. mr. zindler you say 2015 is watershed for decarbonization. mr. mcgroarty went on to state exactly how important these minerals are so we can move forward with wind and solar and all of the smart technologies that we want. but we really don't want to be even more reliant than we already are. i appreciated what you did in terms of outlining how historically we have been so reliant in certain areas but instead of making progression it seems we are actually going backwards. now you have indicated that there are some areas that we might be able to reduce this dependence. the fact that we produce zero rare earths and are now again 100% dependent on china for our rare earths should be unsettling to all of us. so we've got lousy permitting process where in terms of permits for mines, minerals, we're, if we're not the worst the world we're close to being the worst. i think p

mr. mcgroarty. >> thank you. my thanks to the committee for the opportunity to testify this morning. i'm dan mcgroarty, principal of car mit strategic group based here in washington, d.c. strategic resources are a core element to my practice. my advisory companies include texas resources, graphite one, america manganese, denim capital management and rio tinto working to develop new sources of metals. i also consult to the institute for defense analyses which supports the departments of defense and homeland security, is the joint chiefs and intelligence community on issues related to strategic materials and resource security. that said, the views i express today are my own. the committee asked a central question and that's where i will start. the near-term outlook for the commodity markets can be summed up in a single word, bleak. we've heard about the collapse in the price of oil. the same is generally true for hard rock commodity pricesing look at five key industrial minerals aluminum, copper, lead,