FMG was flying this morning then that came out and the shares went south again.
Andrew Forrest of late causing our stocks to go south every time he's in the media.
Andrew Forrest said this the other day too Fortescue pulled back on its 2030 Green hydrogen targets, in part because it says the costs are too high.Then the stocks went south again and Capital pulled the plug and sold out of FMG.
Some one needs to tell AF to button his lips.
He was all for green hydrogen and his thinking of the last few years was all cars will go hydrogen well no they are not going that way at all. EV battery technology in advancing fast.
He builds a IO truck that is fueled by green hydrogen then realizes its to expensive so builds an EV IO truck which is far cheaper to run.
The only use for green hydrogen is to make green iron or green steel. Its not going to be the big money spinner AF thought it was going to be. Green hydrogen simply to expensive to make. Its not going to replace gas either like Bowen thinks it is.
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