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BY Patrick Sisson

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Across the Permian Basin, the vast, mineral-rich swath of land in West Texas that supplies much of the nation’s crude oil, derricks pump out massive amounts of oil, roughly 6 million barrels a day.

But that amount pales in comparison with the amount of dirty, brackish water that’s also extracted during oil drilling. Drilling in the Permian Basin also unearths roughly 26 million barrels of water a day, about the same daily water use as all of New York City. This water is often black-gray from oil residue, and has a funky odor from underground bacteria.

Traditionally considered a by-product of energy production, this water, concentrated seawater from prehistoric oceans, is mineral rich. The Houston-based startup Element3 found that this so-called wastewater is a rich source of lithium, and endeavored to filter it to create a domestic source of this high-demand mineral.…