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Oil majors, automakers to push hydrogen to help cut emissions

Jan. 17, 2017 4:58 PM ET|By: Carl Surran, SA News Editor
The CEOs of some of the world's biggest oil firms and automakers agree to promote more investments in using hydrogen to help reduce emissions and curb global warming.

The companies - including oil producers Royal Dutch Shell (RDS.A, RDS.B) and Total (NYSE:TOT), and automakers BMW (OTCPK:BMWYY), Daimler (OTCPK:DDAIF), Honda (NYSE:HMC), Hyundai (OTC:HYMTF) and Toyota (NYSE:TM) - say they will seek to boost investment in developing and commercializing the hydrogen sector, currently amounting to just €1.4B/year, vs. hundreds of billions of dollars invested annually by the oil sector.

"We are not trying to bring hydrogen only to cars or trains. We are trying to bring a systemic approach," says Air Liquide (OTCPK:AIQUF) CEO Benoit Potier.



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