As interest grows in reducing fossil fuel emissions, the oil and gas industry is looking to hydrogen as the next big source of clean-burning energy.
Matt Smith, director of commodity research at ClipperData, told Texas Standard that hydrogen fuel is still much less common than oil or natural gas. But it has potential.
“It currently accounts for a very small piece of the pie in terms of the world’s energy supply, sort of under 5%. But some of the more optimistic estimates peg it at meeting nearly a quarter of consumption by 2050,” Smith said. “As big oil tries to pivot away from fossil fuels, hydrogen is emerging as the next big bet.”
Hydrogen is attractive because it burns cleaner than fossil fuels. It also burns hotter than other renewable sources of energy like wind or solar, so it’s good for industrial uses like creating steel or in chemical plants.
Here’s what you’ll hear in this segment:
– Who is already investing in hydrogen fuel development
– What the hurdles are to growing America’s hydrogen fuel supply
– How hydrogen power is made, and what it can be used for
