1 week Ago By OilPrice.com
Some of you may be old enough to remember cold fusion, that wondrous scientific discovery touted by the press back in the last century. Well, we don’t want to leave the impression that we have discovered another cold fusion, just that the decision date for natural (white or gold or whatever color you like) hydrogen may be coming closer. if(window.
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push({ placementName: "oilprice_medrec_btf", slotId: "oilprice_medrec_btf" });`;document.write(write_html);} In case you missed the initial findings, geologists believe there are substantial pockets of renewable hydrogen under certain geological formations. Renewable because rainwater seeping through the ground, react with particular rocks to form hydrogen.
One well has been drilled in Nebraska, with results not yet determined due to an equipment failure, but the Australian investor in the well has acquired large properties for drilling in nearby Kansas with the financial aid of a large Australian mining company. That group begins drilling in the spring. Meanwhile, another Australian driller has acquired cash to begin its drilling program in South Australia.
By the end of this year, we should have good indicators of whether this is a new energy frontier or a lot of hype. if(window.innerWidth ADVERTISEMENTfreestar.
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write(write_html);} But that is all old news. Now a French government agency has announced a find of natural hydrogen that the press reports say could be worth $90 billion. Admittedly, finding a resource is not the same as creating commercial value, but the French announcement is meaningful several ways.
First, it comes from a government scientific agency, not a small wildcatter. That gives it more credibility in some circles. Second it involves a big number, meaning something worth the attention of big energy companies.
Okay, the Trump administration has dampened enthusiasm for hydrogen, but that is hydrogen manufactured by expensive processes. This is natural hydrogen. If it exists in volume and is extractable, we might not need to resort to manufactured blue and green hydrogen (some other colors of the hydrogen rainbow).
Stay tuned. We’ll know soon enough. By Leonard Hyman and William Tilles for Oilprice.
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