If you go to an existing power market, there is generally already enough supply for the existing demand. And all of that supply is a sunk cost. The plants are already built. They're not going to get shut down unless the price falls below solely the operating cost.

Building more capacity can cause the price to decline. In some cases by quite a lot. So nobody is going to want to finance it unless they see that either demand is about to increase or supply is about to decrease.

Which is potentially true in the future. Electric cars will need more generation capacity. A carbon tax that causes existing fossil plants to shut would reduce existing supply.

But it's also potentially not true. Maybe the demand for electric cars will be satisfied by an increase in rooftop solar and not an increase in utility-scale generation plants. We don't know when, or if, a carbon tax will happen in a given market.

You guys also had a specific problem. If you're getting waste heat from natural gas plants, and then carbon prices increase to the point that people stop burning natural gas and switch to alternatives, you're not the ones absorbing that demand, you're the ones getting shut down.

So you're in a different market position than would be the case for fusion after the introduction of a carbon tax.