by theluckycountry » Wed 29 Nov 2023, 18:07:04
Rolls-Royce CEO Retreats On Hydrogen-Powered Airplane
$this->bbcode_second_pass_quote('', 'N')ov 29, 2023
Rolls-Royce Chief Executive Officer Tufan Erginbilgic told investors on a call Tuesday that fleets of hydrogen-powered aircraft for passenger flight won't happen anytime soon. "I don't believe in the next 15, 20 years hydrogen will play a role," Erginbilgic said. Bloomberg also noted Rolls-Royce plans to "dispose of its electrical business that develops propulsion systems for aircraft such as flying taxis."
Erginbilgic said the company is making "choices on resource allocation" and that the electrical business unit would offer "better value to a third party." [an IPO in other words, where the new company can make a fortune on spin and hype]
The hype surrounding hydrogen-powered aircraft as a carbon-free solution for air travel has turned out to be a dud. Recently, there has been a noticeable decline in green stocks, including wind, solar, and hydrogen energy.
Take a look at iShares Global Clean Energy ETF versus the Nasdaq... Whoops!
https://www.zerohedge.com/commodities/r ... plane-pushAre we starting to see the pattern? The obvious decline of conventional energy sources led to a *frenetic* race to find ways to keep us driving to the mall and jetting to holiday destinations when the oil ran out. The new technologies were always fringe (economically speaking) yet they were sold in the media as a given transition. This I am afraid led far too many normally clear thinking people to believe in the dream, and subsequently pull the glass half empty meme on anyone who spoke against the Big Transition.
Electric car sales have reached peak uptake (a bumpy peak globally) Wind is toppling, Solar thermal went down the gurgler long ago, and now we're waiting for the uptake in Solar PV to run out of steam. Solar PV was actually a bright spot in all this mess but it has it's limits too, basically the limit of the grid to handle the intermittent generation. One day governments will have to restrict these to protect their grids and assure supply on cloudy days, and of course one day the artificially low China Price will pass into history just as it did with Japan.
But don't lose all hope! Especially if you are old, because you may be dead before you have to deal with the full realities of peakoil.
Frenetic: * fast and energetic in a rather wild and uncontrolled way: *
We're 17 years past the peak now and the 3rd World is going hungry and dark. We'll be next, we're well on the way in fact.