[icapulet2]

Because Tomlinson starts out by talking about 2012?? The company got to where they were on the basis of regulatory credit exchanges for the majority of its relatively long history. It is no longer some startup darling, mind you, it's got years on it comparatively: https://www.businessadministrationinformation.com/news/the-t... If another 10 years pass where credits do not significantly contribute to its profits, then we can make a case for a fundamental change.

Also, take a look at what happened in 2020: https://news.bloombergtax.com/financial-accounting/sec-pushe...

And their significance in 2021 as well: https://news.bloombergtax.com/financial-accounting/sec-pushe...

[ALittleLight]

You are comparing the revenue from the credits to the profits (or that's what the Bloomberg links you are giving do). That's specious. The credits aren't given to Tesla for free, they earn them by building and selling the cars. The credits are now and have been a small part of revenue.