Oversight and innovation are critical, not stock ownership

Treasury Secretary Scott Bessent recently announced plans to expand the national stockpile of minerals such as lithium and rare earths needed in the production of renewable energy technologies and military weapons.

This is nothing new; the U.S. government has stockpiled minerals for decades. What is new is that the government is buying stakes in the companies that will supply the minerals.

Mining is a “boom and bust” business that operates on tight margins, but the U.S. taxpayer is now a shareholder in mining companies. Like many investments, these pose some risk of loss.

Congress should exercise oversight, disclose investment risks, and ensure taxpayers receive a fair return.

One potential risk is an oversupply from the taxpayer subsidies fueling the current boom. The term “rare earth