nies with successful track records in development and market entry are facing challenges in raising the capital needed to keep moving forward.

Interest could be reignited quickly if the United States were to make a substantial and durable commitment to policies that would send a clear signal to the capital markets that hydrogen was a priority option in addressing the security-environment-economy trilemma described earlier in this chapter.

CONCLUSION

The introduction of production hydrogen fuel cell vehicles and the establishment of a hydrogen infrastructure are high-risk, high-payoff endeavors that would promote the global good—through reduced oil dependence and risk of climate change. Major automotive companies, fuel companies, and entrepreneurial ventures have devoted considerable resources to developing such vehicles, with support from governments around the world. Nevertheless, difficult technical issues remain, especially the development of cost-effective hydrogen storage on the vehicles and fuel cell systems that meet durability and customer requirements. For this reason, all of the private companies that are involved will continue to depend on a government commitment that is substantial enough to make a difference and that remains durable until HFCVs are competitive.

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