Good thing power isn’t primarily coal powered in most of the US ;-) In CA, that’s a total non-issue, for example.
No argument that their valuation has gotten way ahead of where they are, but the thesis is probably that it doesn’t take too many years of doublings to 10x, and companies that appear likely to decline take a significant discount to even what their current production would imply, because shareholdings are a claim on future earnings, not just where they are. Toyota really whiffed with its focus on hydrogen, frankly.
No argument that their valuation has gotten way ahead of where they are, but the thesis is probably that it doesn’t take too many years of doublings to 10x, and companies that appear likely to decline take a significant discount to even what their current production would imply, because shareholdings are a claim on future earnings, not just where they are. Toyota really whiffed with its focus on hydrogen, frankly.