On a related note, I'm skeptical of the feasibility of their 2035 EV-only mandate. They haven't made any meaningful progress toward building up a grid that can support as much electrical power consumption as they will need. I know gasoline-powered cars are not going to disappear overnight, but the average American replaces their car about every 12-14 years according to Professor Google. Either that number is going to become 25-30 in California, or people will be heating their homes with peat and dry, fire-prone CA lumber.

I'll admit I have selfish interest in seeing nuclear power take over our electrical grids, but I don't want to see the lives of 40M people upended just because it will give the companies in my portfolio more pricing power.