Copper is one of the most important mineral in the world and Copper prices are traditionally considered as the barometer of the global economy. As the world transitions to everything green, the demand for copper would only increase. One estimate puts the global copper consumption will double by 2035 in order for the world to meet zero-emission energy goals. However the transition to clean energy would bring new headaches for the global economy especially in terms of the need for critical minerals. For instance, growing consumer demand for EVs leads to higher demand for minerals. According to the IEA, a typical electric car requires six times the mineral inputs of a conventional internal combustion engine car.

The following chart shows the minerals used in EVs compared to conventional cars:

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Source: The Role of Critical Minerals in Clean Energy Transitions, IEA

A neat infographic on the healthcare spending in the US:

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U.S. Healthcare Spending, courtesy of Peter G. Peterson Foundation

Source: Peter G.Peterson Foundation

The Automotive industry is one of the important industries in the European Union(EU). The industry provides millions of well-paid jobs and is critical to the economy of some countries such as Germany. In this post let’s take a look at some of the fascinating employment-related facts about this industry.

According to the The European Automobile Manufacturers Association (ACEA), the auto industry accounts for 12.7 jobs in the EU. This includes 2.6 million direct and 10.2 million indirect jobs. In terms of total manufacturing jobs, the industry directly provides 8.5% of all EU manufacturing jobs. In a few East European countries and Germany this figure is even higher as shown in the chart below:

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Source: The Automobile Industry, Pocket Guide 2022/2023

The following graph shows the overall split of the 12.7 million jobs:

Source: The Automobile Industry, Pocket Guide 2022/2023

Below are a few other key points about the EU auto industry:

• The auto industry accounts for almost 7% of all EU jobs
• Automotive employment increased by 14% over the past five years
• 11.5% of all EU manufacturing jobs are in the auto sector
• A total of 3.5 million people work in automotive manufacturing in the EU
• Germany has the highest number of people employed in auto manufacturing with over 916,000 followed by Poland, Czech Republic and Romania in 2019

Many other facts can be found in the above linked report.

Related stocks:

• BMW (BMWYY)
• Ferrari N.V. (RACE)
• Volkswagen (VWAGY)
• Renault (RNSLY)

Disclosure: No positions

The US tax system is one of the most complex in the world. The tax code is 6,871 pages long according to one estimate. When all the guidelines and regulations are included it goes to 75,000 pages !

The reason for the complexity is the tax code constantly gets updated with all kinds of exclusions, deductions, etc. For example, buying a home allows for certain tax benefit if some conditions are met. I came across the following infographic that shows how the US tax system works:

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How the U.S. Tax System Works, courtesy of Peter G. Peterson Foundation