Yes, madam , you are correct....Fortescue did put green hydrogen investment(stupidly) into America on the (stupid ) assumption of IRA subsidies. As I've mentioned many times, subsidies suck.....subsidies are for wimps....subsidy assumptions leave businesses vulnerable to political change. If ya can't make a project profitable without subsidies.....forget it!
So yes, I wouldn't touch America with a forty foot barge pole at the moment, its rapidly transforming into LA LA Looneeland at the moment. I'd much prefer that investment capital was pumped into Fortescue Zero and accelerating the decarbonising of our IO production.
Green hydrogen is yet to prove itself to be logistically or commercially viable. My greatest hope for hydrogen is yellow (photocatalytic ) hydrogen being explored by Sparc Technologies/Fortescue/University of Adelaide.
And yes, I'm more than happy to have dividends reduced to fund decarbonising of our IO production by 2030. The reduced dividends still provide a more than comfortable lifestyle. I'm also happy for Fortescue to make adjustments to its capital allocation.....I subscribe to the theory that the most accurate definition of intelligence is adaptability.
As I've previously mentioned, our investment mythologies are vastly different.
Nimble body, nimble mind.Brittle breaks!Wes T Tiger jnr
FMG Price at posting:
$16.62 Sentiment: Buy Disclosure: Held
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Wes T Tiger jnr
(20min delay)