In 1848, gold was first discovered in California. In 1859, the U.S. oil industry began when the first well was drilled in Pennsylvania. Back then, oil from animals (think whale blubber) was typically used, until a patent for creating kerosene from coal oil was patented in 1854.
Once Pennsylvania shale oil was analyzed and determined to be a great source of kerosene, others began looking for “rock oil.” Petroleum soon replaced whale oil and a new term was coined: “black gold.” This is not to be confused with the alloy black gold, which is created by mixing gold with cobalt.
Fast forward into the 21st century and I believe we are about to enter into another gold rush of a sorts. Batteries. In a recent article by Yahoo! Finance, the author pointed out that the real money may not lie in Tesla’s cars, but in its battery business.
The article analyzed Canaccord analyst Jed Dorsheimer’s note that upgraded Tesla stock (NASDAQ: TSLA) from “hold” to “buy.” Dorsheimer also tripled his price target to $1,071 per share.
He pointed out that Tesla holds a “several-year lead” over its rival EV makers around the world. However, this wasn’t why he upgraded the stock. That reason has everything to do with batteries. Batteries have evolved over the years.
For the rest of this article: https://cleantechnica.com/2021/04/24/battery-rush-is-21st-centurys-new-gold-rush-and-teslas-big-future-revenue-source/