Hydrogen in the news
Is it only because I'm a holder of ARSC stock and thus more aware of news with the word "hydrogen" in it... Or have there actually been a lot of mentions of hydrogen in the news lately?
The buzz from stories like this one should draw more people to hydrogen stocks into next week, next month, no?
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Congressmen announce fuel cell bill
02 February 2007
Author:
Provider: Adfero
Four US congressmen have introduced bipartisan legislation that they hope will promote the widespread adoption of hydrogen fuel cell technology.
Republicans Zach Wamp and Lee Terry and Democrats Mike Doyle and Albert Russell Wynn yesterday introduced the proposed Hydrogen Fuel Cell Commercialisation Act, which includes plans to extend the current 30 per cent tax credit on fuel cells and introduce further tax credits for hydrogen fuel.
The legislation would see the federal tax credit on fuel cell equipment extended to 2013 in order to encourage both businesses and consumers to invest in fuel cell technology, and provide a 30 per cent tax break on hydrogen fuel too.
Announcing the new bill, Congressman Doyle said that development of fuel cell power was an aim for both Republican and Democrat parties.
"Hydrogen fuel cell technology holds tremendous potential for allowing Americans to be more responsible stewards of our environment," he said at a press conference.
"It also offers us a way to reduce our dependence on oil from violent and politically unstable parts of the world by providing a reliable, affordable alternative to the internal combustion engine."
Mr Doyle added that the tax relief plans were about creating demand to enable fuel cell companies to develop and grow.
"These tax credits would develop enough private-sector demand for fuel cell technology to become an economically viable alternative for electricity generation," he said.
Congressman Terry added that tax credits would allow further deployment of fuel cells in a variety of industry sectors, including transport, military, and for back-up power applications.
