http://today.reuters.com/news/newsArticle.aspx?type=scienceNews&storyID=2005-03-16T194606Z_01_L16232618_RTRIDST_0_SCIENCE-AUTOS-DAIMLER-HYDROGEN-DC.XML
Many car companies are developing hydrogen-powered cars to help wean the globe off diminishing oil supplies.
[]there are still technical obstacles to overcome such as extending fuel cells' reliability and durability; ensuring that they start at sub-freezing temperatures; reducing costs, and storing enough hydrogen in a small enough space to be workable.
The car industry is also waiting for the roll-out of hydrogen filling stations.
Shell Hydrogen Chief Executive Jeremy Bentham said once consumers demanded hydrogen filling stations, energy companies would meet it.
I think this is awesome, although the transition shift will probably cause some serious surprises.
What I find very interesting is that Shell has an Hydrogen branch.
Most petroleum companies are actually worried about the environment, and all are aware of just how much oil is left and I think many are beginning to take on alternate fuels for the sake of long-term existence of their companies. Also, I remember one of Shell's executives speaking his concerns about the environment last here, wikipedia quotes him http://en.wikipedia.org/wiki/Royal_Dutch/Shell#Environmental_issues here however I can't find any news articles which had the full story.
Yeah, it makes sense.
The thing is, when I first mentionned alternatives to oil in the now-defunct iichan /tech/ discussion board, several said that the oil companies would never allow alternative fuels/engines to come into existence. While it may have been true (or not) in the sixties, the situation is different nowadays. The industry is genuinely looking for viable alternatives - while reaping a profit too, let's not dream too much. :)
Tho, I wonder. Assuming a completely free energy source was found, would they go bankrupt? They could still profit from the filling stations infrastructure, for example. And if it was an energy that didn't need fills, there should still be profits to be made from repairs. But maybe the engines could be auto-repairing, or virtually not subjected to wear and tear...
http://www.villagevoice.com/news/0512,webmondo1,62246,6.html
" "Since last fall, Herold has done peak estimates on about two dozen oil companies. Herold believes that the French oil company, Total S.A., will reach its peak production in 2007. Herold expects 2008 to be critical, with Exxon Mobil Corp., ConocoPhillips Co., BP, Royal Dutch/Shell Group, and the Italian producer, Eni S.p.A., all hitting their peaks. In 2009, Herold expects ChevronTexaco Corp. to peak.
In Herold's view, each of the world's seven largest publicly traded oil companies will begin seeing production declines within the next 48 months or so. "