John Marburger made a speech at the Goddard Symposium, in which, as Paul Dietz notes, he clearly gets it:

The Moon has unique significance for all space applications for a reason that to my amazement is hardly ever discussed in popular accounts of space policy. The Moon is the closest source of material that lies far up Earth’s gravity well. Anything that can be made from Lunar material at costs comparable to Earth manufacture has an enormous overall cost advantage compared with objects lifted from Earth’s surface. The greatest value of the Moon lies neither in science nor in exploration, but in its material. And I am not talking about mining helium-3 as fusion reactor fuel. I doubt that will ever be economically feasible. I am talking about the possibility of extracting elements and minerals that can be processed into fuel or massive components of space apparatus. The production of oxygen in particular, the major component (by mass) of chemical rocket fuel, is potentially an important Lunar industry.

What are the preconditions for such an industry? That, it seems to me, must be a primary consideration of the long range planning for the Lunar agenda. Science studies provide the foundation for a materials production roadmap. Clever ideas have been advanced for the phased construction of electrical power sources