Rare earths - the next oil

from Asia Times Online:

Rare earths - the next oil: The decision of the United States, the European Union and Japan to file a joint case at the World Trade Organization against China over its handling of trade in rare earths - the first such cooperation by the three powers - highlights the strategic importance of what are, in fact, non-rare elements. China will not easily let go of its advantages in controlling supply. - Elliot Brennan

Drill, Drill, Drill. No wait... Mine, Mine, Mine.