Truth:
The great thing about lithium is that the production methods require little human intervention. There is also a
static range of lithium reserves in excess of 500
years
static range of lithium reserves in excess of 500 years globally. Many of the world’s known lithium resources are in Chile—a long time economic partner of the U.S. In addition, other reserves can be found in Bolivia and China, which may be harder to obtain. Source There is also exploration of lithium resources in Nevada, which would allow for domestic production of lithium if the projects are successful.
Unlike oil and coal which is gone forever once it's burned, lithium and other metals extracted for use in batteries can be recycled into new batteries over and over again as the batteries wear out. In fact, car batteries are already the most recycled product in the U.S. having a 98 percent to 99 percent recycling rate. Source