Biden Awards $7B for Clean Hydrogen Hubs

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Facts

  • Speaking in Philadelphia on Friday, US Pres. Joe Biden announced plans to build a nationwide system of seven clean energy 'hubs' to produce clean hydrogen capable of powering large vehicles, ships, and energy-intensive factories.1
  • The announcement puts an end to months of fierce political bickering between states over the allocation of the $7B in federal funds, which will reportedly put the US on course to manufacture 50M metric tons of clean hydrogen fuel by 2050.2
  • The Biden administration says the hubs — which will be based in California, Washington, Minnesota, Texas, Pennsylvania, West Virginia, and Illinois, with projects in 16 states — are important to achieving its climate goal of reaching net-zero greenhouse gas emissions by 2050.3
  • He further added that the decision will also benefit the economy, as it will create 'tens of thousands of good-paying jobs, many of them union positions' and will generate over $40B in private investment.4
  • Hydrogen is typically made from natural gas, which releases large amounts of carbon dioxide. While a solution to this is to create hydrogen using solar or wind energy, this process is reportedly up to 300% more expensive than producing it using natural gas.5
  • According to senior government officials, the hydrogen hubs that use natural gas to make hydrogen would use carbon capture technology to reduce emissions.6

Sources: 1Washington Post, 2Reuters, 3CNN, 4Associated Press, 5The New York Times and 6CNBC.

Narratives

  • Pro-establishment narrative, as provided by The New York Times. The Biden administration's plan to reach net zero emissions by 2050 includes hydrogen as a promising tool to fight climate change. In theory, hydrogen could be the solution to produce steel, cement, chemicals, and fertilizer without emitting greenhouse gases. It could also be used to power trucks, ships, or airplanes or to produce electricity. Biden is planting the seed of making hydrogen the power of tomorrow.
  • Establishment-critical narrative, as provided by Newsweek. The Biden administration wants the US to believe that hydrogen fuel is a promising new source of renewable energy. However, when leaked into the atmosphere, hydrogen has a greenhouse gas effect five times more potent than CO2. Equally as important, at a time when we need to quickly reduce our reliance on fossil fuels, a large portion of this project will rely on natural gas.

Predictions