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Huge and immediate need for renewable-based fuels in shipping represents opportunity for investors, according to ‘Fuelling the Fourth Propulsion Revolution’ report released today. This is the equivalent of the entire world’s current renewable energy production. billion in 2017 to $1.6 billion in 2019.
The report finds that Germany, which is pursuing rapid development in hydrogen, could procure cost-competitive hydrogen (at about $1/kg) in 2050 from a variety of sources, including via electrolysis from its own domestic renewable power, or via pipeline imports from North Africa or Southern Europe. MMbtu in Russia, $8.7/MMbtu
As Sheikh Zaki Yamani, a former Saudi oil minister, once said, “The stone age came to an end not for a lack of stones, and the oil age will end, but not for a lack of oil.” But some oil will still be being pumped at the end, and it won't be heavy, sour, far from water crude.
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