Initial risks and investments will be shared between industry and government through a public-private partnership. Specific mechanisms for funding will be developed in conjunction with the Legislature.
The current pace to develop hydrogen-fueled vehicles and products is hindered by the need to solve the so-called chicken-or-egg question: which should come first, commercialization of vehicles that run on hydrogen, or building of the fueling stations that dispense it? Who should take the initial risk with expanded investments: hydrogen producers or vehicle manufacturers? What is the appropriate role of the government? Past experience with clean, alternative fuels in California has helped answer these questions: the early risks must be shared in order for a technology to progress. -CA H2 NET BLUEPRINT PLAN
And we know Calforina HAS NO MONEY!!!so..
Department of Energy did in Dec. 2010 launch a $74 million funding program to support R&D of fuel cell technologies for stationary and transportation applications.
The conversion from gasoline-powered internal combustion engines to hydrogen powered combustion engines is agreed upon by most scientists and engineers to be a particularly easy transition.- Source
President Bush when he was in office allocated approximately $2 billion in hydrogen highway research funds. California Governor Arnold Schwarzenegger was pushing to get 200 hydrogen filling stations built by 2010 stretching from Vancouver, British Columbia, all the way down to Baja, California (but has fallen short of this goal because of a poor economy and lack of political will).
Entrephreneurs: The United States is currently home to major fuel cell manufacturers and start-ups, fuel providers, as well as hundreds of component suppliers and end users involved at one point or another on the development and manufacturing spectrum. Fuel Cells 2000 estimates that there are more than 630 active companies and laboratories in states involved in the fuel cell and related fuels industry, investing an estimated $1 billion a year.
We need NEW industry and jobs--who am not to say this won't be another form of industrial revolution like our last Telecom/Internet revolution which the US is the best at [Apple, Google... etc]?
..or we can just drill for some more oil someplace and/or remain dependent. However, I suspect oil/gas products will still be around, they not going anywhere.