America’s Clean Hydrogen Dreams Are Fading Again

America’s Clean Hydrogen Dreams Are Fading Again

The promise of an abundant and clean-burning alternative to oil and natural gas has captivated generations of politicians, executives and environmentalists. As far back as 1977, when oil prices were a big concern in the United States, a Cadillac Seville fueled by hydrogen drove in President Jimmy Carter’s inaugural parade. More recently, a signature law under President Joseph R. Biden Jr. offered generous tax credits to companies that made hydro…

America's Clean Hydrogen Dreams Are Fading, Again

Companies are canceling clean hydrogen projects across the United States after Congress shortened the qualification window for a Biden-era tax credit by five years, requiring projects to be under construction by the end of 2027. Energy consulting firm Wood Mackenzie estimates three-quarters of proposals will not meet this deadline. Woodside Energy and Fortescue have scrapped projects in Oklahoma and Arizona respectively, citing cost increases a…