At the beginning of October, I posted an article on hydrogen-based fuel technology eventually leading to the demise of the oil industry. Of course, this is not something that is going to occur in the short-term, but man is getting closer to harnessing this potential renewable energy source and it may offer encouragement for those nail-biting Cassandras who foretell doom and gloom consequences of peak oil and inflationary pressures brought on by limited energy resources.
While I am an eternal optimist and still believe that necessity is the mother of invention, I also acknowledge that technology will not solve all of the world’s problems. Yet when innovation is married to technology and/or intelligent ideas and thoughtful planning, it tends to alleviate more than its fair share.
Today, I share a news excerpt on the future of hydrogen fueled vehicles from Sunday’s Yahoo News. There are no insights on immediate gratification investment strategies to be gleaned from this article. About the only benefits one may derive from reading it are hope and inspiration. I suppose I could write about CIT’s (NYSE:CIT) unavoidable bankruptcy, but there will be plenty of coverage on this and other negative news events in the media and on countless blogs, so why bother?
Here is the article. Enjoy and visualize the reality of such and all its potential positive impacts:
"When the US government cut funding for hydrogen-fueled cars last May, Energy Secretary Steven Chu said such vehicles will not be practical for another decade or two.
Lim Tae-won thinks he can prove Secretary Chu wrong.
Dr. Lim runs the team at Hyundai (OTC:HYMLF)-Kia Motors that is developing hydrogen fuel cell technology. And they are on course, he says, to mass produce hydrogen cars in six years…"
Like every business venture, there is no certainty and therefore this is a gamble. The undertaking to develop this into a commercially viable energy source relies upon funding from the Korean government. Unlike the U.S., Korea probably has the money to fund such a program and as they are keen to carve out leadership niches in the global economy and new world order, look for their commitment to manifest itself in earnest.
For those who think this idea is too far-fetched, just remember when the big three auto-makers scoffed at the concept of hybrid vehicles back in the day.
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