Well, it's official…
Shell (NYSE: SHEL) has permanently closed all of its hydrogen refueling stations for cars in California.
The company cited supply complications and other external market factors.
Those other external market factors?
Car buyers don't care about hydrogen.
I suppose if hydrogen stations were abundant and the fuel itself was considerably cheaper than gasoline and diesel, that wouldn't be the case. But it is.
So why would Shell — and so many other oil companies — be so bullish on hydrogen when it still remains cost-prohibitive to pursue after so many years?
The answer is simple...
Because electric vehicles pose an existential threat to the longevity of Big Oil, but hydrogen vehicles do not.
You see, electric cars don't need oil or gas. But hydrogen does. At least today, anyway, as most of today's hydrogen is created using natural gas.
This, of course, doesn't mean it shouldn't be pursued. It absolutely should be.
As populations grow and energy demand increases, we need everything we can get our hands on. I actually have high hopes for hydrogen. I would love to see it used more as a cleaner fuel source for industrial processes, such as steel and cement production. And one day, I absolutely believe it will be a part of our transportation fuel mix, too. But not anytime soon.
Of course, either way, Big Oil still comes out ahead, because even with the rapid adoption of electric vehicles, the big oil machine still holds all the cards.
Secret tech stock set to soar on Apple's Vision Pro Rollout
Apple has unleashed its Vision Pro headset, a device set to transform the tech world.
This is Apple's most ambitious project since the iPhone.
At the heart of this innovation is a small tech firm, collaborating closely with Apple.
Its partnership with Apple puts this tech firm in a prime position for growth.
All the details can be found right here.
In fact, according to our in-house oil and gas expert Keith Kohl, we're about to enter another 10-year bull market in oil with prices creeping back up over $100 a barrel and staying there for the foreseeable future.
In one of Keith's most recent investment notes, he wrote…
Due to the convergence of three powerful economic triggers, I believe we're on the cusp of a multi-year bull market in oil.
Not only will crude oil prices soar, but my research indicates they will not come back down for years.
Most Americans will be blindsided as prices for fuel and everyday goods reach unprecedented heights. But for smart investors who know what to do, this is a rare opportunity. That's why I've recorded this urgent briefing today.
You can listen to that briefing here.
You can also read his complete analysis here.
To a new way of life and a new generation of wealth...
Jeff Siegel
Check us out on YouTube!
@JeffSiegel on Twitter
Jeff is the founder and managing editor of Green Chip Stocks. For more on Jeff, go to his editor's page.
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