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Top FMCG Stocks in India Stock Forecasts From Experts ✌️【Flexible Hours】✌️ Free access to stock market forums, expert advice, and real-time data to help you stay informed and grow your investments. President Joe Biden on Friday announced the locations ofseven regional hubstomanufacture hydrogen– a fuel cleaner than fossil fuels like oil, gas and coal – but one which can be derived fromrenewable energy, nuclear power orplanet-warming methane gas.

Biden made the announcement alongside Energy Secretary Jennifer Granholm at the Tioga Marine Terminal in the Port of Philadelphia – which will eventually use hydrogen produced from renewable energy and nuclear power at a new Mid-Atlantic hydrogen hub comprising parts of Pennsylvania, New Jersey and Delaware.

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“I made it a goal for our country to get to net-zero emissions from pollutants no later than 2050,” Biden said, adding that hydrogen is an important supplement for renewables like wind and solar, especially to power heavy industry, heavy duty trucks and shipping.

“That’s where hydrogen comes in,” Biden said. Using “hydrogen, you can power industries like the production of steel and aluminum. It’s going to end up changing our transportation system. That lets us get to this place without putting more carbon in the atmosphere.”

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Biden administration officials said they are still determining exact locations for the hubs in each region.

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“I think of hydrogen as the ultimate energy carrier,” a senior administration official told reporters on a Thursday press call. “It’s earned the nickname as the Swiss Army knife of clean energy.”

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In addition to economic impacts, the Biden administration is betting big on hydrogen for its climate goals. Senior administration officials said the fuel will be used to clean up sectors of the economy like heavy duty trucking and industry, both of which are hard to wean off fossil fuels.

Biden’s Environmental Protection Agency has also made hydrogen as an integral part of its proposed regulation to cut emissions from power plants – another huge fossil fuel emitter in the US economy.

Top FMCG Stocks in India Stock Forecasts From Experts ✌️【Flexible Hours】✌️ Real-time stock and futures data, backed by expert stock market trend predictions, to help you make timely and profitable investment decisions. A senior administration official estimated the hubs would reduce the country’s planet-warming carbon dioxide pollution by roughly 25 million metric tons per year from end use, adding that is roughly equivalent to taking 5.5 million gasoline-powered cars off the road.

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“We’re big beneficiaries of it,” California Gov. Gavin Newsom said at a press event. “Hundreds of thousands of jobs; we estimate over 200,000.”

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“Today is a major win for the ARCH2 team and for future economic development and energy production in West Virginia,” Capito said in a statement.

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