Millions of new jobs could be created over the next 25 years if businesses embrace the 'hydrogen economy', according to a leading economist and climate change expert.
Jeremy Rifkin, an adviser to the EU and president of the Foundation on Economic Trends, said the world economy was in the last stages of its oil-based energy regime.
He told delegates at a conference in Rome run by management consultancy Hay Group that the world was "approaching the sunset of the oil era", and that global governments were not grasping the enormity of the scale of the problem.
An economic gameplan was needed to tackle the issue and manage the move to a hydrogen economy, which will replace the use of fossil fuels and reduce carbon emissions.
"As [the world] moves into a hydrogen economy, there is as dramatic an opportunity in terms of job creation as there was with coal and steam power," Rifkin said.
"Reconfiguring the energy infrastructure of the EU will create new business opportunities and millions of new jobs over the next 25 years."
Rifkin called this the "Third Industrial Revolution", and said Europe was leading the way by mandating that 20% of all EU energy be generated from renewable sources by 2020.
Conversion from one form of energy to another consumes more useful energy that it yields,for if you could do the opposite of creating energy from nothing, you could create a perpetual motion machine violating the laws of physics.
You need to do a "refresher" course.
It is perhaps the word "experts" that should carry the quotation marks rather than "hydrogen economy" in your article on the job prospects of a hydrogen economy. The concept of an economy fueled by hydrogen has been around for a very long time (I can remember it as a child from the early 1960's). Unfortunately, rather like the alchemists and their centuries long quest to change lead into gold, it has not proved possible to change the Laws of Physics required to concentrate hydrogen into a usable form (and it never will - that's why they are called Laws!). This basically requires 1.2 units of energy input to produce the equivalent of 1 unit of usable compressed or liquified hydrogen - or to put it another way you would have to burn 12 gallons of oil as fuel at a power station to generate enough electricty to provide the hydrogen equivalent of 10 gallons of petrol for your car.
Even excluding the enormous capital costs involved in building the additional power stations required, the service station equipment and car manufacturer re-designs to handle compressed hydrogen this is hardly a bargain, either for your wallet or the environment.
It is no coincidence that the main proponents of the "hydrogen economy" in the U.S. are the coal mining industry and the nuclear power lobby - both of which stand to gain enormously from any such change. They are supported politically by those who wish to see American dependence on imported (read Middle Eastern) oil drastically reduced for reasons of national security - while that may be a legitimate policy aim, proponents are being disengenous by negelcting to mention that the hydrogen economy is only currently viable at the cost of vastly increased nuclear or coal powered electricty generation. Hardly the "green" proposal it first appears.
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