…if you are thinking about spending literally trillions of dollars on a new policy imperative.

A Recent conference clip from Seifollah Ghasemi, Chairman, President & CEO of Air Products, Inc.:

Well, let me just put it into following context. If you want to look at the parameter of what is going to drive our profitability on all of these green energy projects that [indiscernible] everything else? What is the transition you’re talking about? 150 years ago, when there was several energy transitions that we’ve had from wood to coal, from coal to oil. They were all driven by economics. It was cheaper to go to coal than wood and more efficiently go to oil.

Therefore, economics was driving that. And therefore, if you had a case that I have a source of energy, which is cheaper, you would win. The energy transition that we are going through right now has nothing to do with economics. Nobody can sit down and claim that they are going to make green hydrogen or blue hydrogen that will be cheaper than using hydro products. That is not a — it’s not economics. It is policy. So if you want to track whether we are on the right track or not, look at what is the policy that are being implemented in the different parts of the world to promote basically climate change.