Well, he could, but not likely. I said the thinking was if he loses the Senate race, but keeps a close margin (say, within 5% or so), he would be the odds-on choice to run for Governor against Lujan Grisham in 2022, especially due to her unpopularity. Similar situation to when Pete Domenici ran for Governor in 1970 and lost by 5% to Bruce King and was the odds-on choice to run for Senator in 1972.