DALLAS (NewsNation) — As lithium becomes more critical, powering everything from electric vehicles to cruise missiles, demand is skyrocketing for rare earths found deep under mineral-rich East Texas.

Major energy producers aren't just drilling for oil in Texas — they're going after lithium and other rare earth minerals, investing billions in what many are calling a modern-day gold rush.

Companies like Chevron, Halliburton and Exxon are racing to open lithium mines in East Texas, where they've been drilling for more than a century.

The United States doesn't produce enough lithium or other critical minerals to meet its clean energy needs, but a significant discovery last month is changing that.

Smackover Formation could fuel nation’s lithium needs

The most lithium-rich fluids ever found

See Full Page