Could The Arkansas Lithium Boom Be Over Before It Starts?

Last November, Exxon announced it had started drilling its first lithium well in Arkansas. At the time, an Exxon executive said, "Lithium is essential to the energy transition, and ExxonMobil has a leading role to play in paving the way for electrification." Exxon is not the only one seeking to capitalize on the estimated considerable lithium resources of Arkansas, a former oil region. The Biden administration is ready to provide generous financial support to build domestic supply chains for the transition. Yet it looks like the boom might be over…