{"id":278817,"date":"2023-09-15T13:14:15","date_gmt":"2023-09-15T11:14:15","guid":{"rendered":"https:\/\/climatescience.press\/?p=278817"},"modified":"2023-09-15T13:14:18","modified_gmt":"2023-09-15T11:14:18","slug":"green-hydrogen-hoax-implodes-the-economics-simply-dont-stack-up","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=278817","title":{"rendered":"\u2018Green\u2019 Hydrogen Hoax Implodes: The Economics Simply Don\u2019t Stack\u00a0Up"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From STOP THESE THINGS<\/a><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The wind and solar scammers raking in massive subsidies have been joined by the \u2018hydrogen huckster\u2019, just as eager to exploit an opportunity when he sees one; an opportunity to gouge untold $billions from taxpayers. The shakedown is said to be justified on the bogus pretext that they\u2019re out to save the planet.<\/p>\n\n\n\n

Scratch the surface, and you\u2019ll find it\u2019s no such thing.<\/p>\n\n\n\n

Which brings us to Andrew \u2018Twiggy\u2019 Forrest. An iron ore mining magnate from Western Australia, Forrest has been promoting ludicrous large-scale solar projects, that don\u2019t stack up on any measure. But his pet obsession is producing so-called \u2018green\u2019 hydrogen using intermittent and unreliable wind and solar, already heavily subsidised.<\/p>\n\n\n\n

While the iron ore price was sitting at US$200 per tonne, Forrest\u2019s obsession didn\u2019t appear to trouble his management team or shareholders, all that much.<\/p>\n\n\n\n

With China\u2019s economy fast imploding, and the iron ore price diving with it (currently sitting at a soft US$100 per tonne), the wheels have fallen off Forrest\u2019s grand \u2018green hydrogen\u2019 dream.<\/p>\n\n\n\n

His hand-picked team of crack executives have rushed for the exits, unconvinced by Forrest\u2019s utopian vision and no doubt troubled by his increasingly unhinged rantings. In July, his wife of 31 years<\/a> announced that they were parting company.<\/p>\n\n\n\n

Forrest\u2019s declining grip on reality resembles America\u2019s Howard Hughes, who died as a crazed recluse after leading the life of a Hollywood raconteur and aviation entrepreneur.<\/p>\n\n\n\n

The Australian\u2019s Nick Cater outlines how an obsession with \u2018green\u2019 hydrogen adds the sudden fall to Twiggy Forrest\u2019s rapid rise.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Andrew Forrest\u2019s green hydrogen dream doesn\u2019t hold water<\/strong>
The Australian
Nick Cater
4 September 2023<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The oceans are warming, Antarctica is collapsing and if the airconditioning fails, you\u2019re toast. \u201cLethal humidity is already here,\u201d Andrew Forrest said in a speech last week. \u201cMillions of people will die. If you can\u2019t get rid of that heat because of humidity, you cook yourself.\u201d<\/p>\n\n\n\n

The mainstream media drew a discreet veil over the Fortescue Metals chairman\u2019s wild speech to the Boao Forum in Perth last week. Yet if it is a glimpse of the conversation with staff behind closed doors, the only surprising thing about the departure of two senior executives and a board member last week was that it didn\u2019t happen earlier. Forrest is sounding like the people who glue themselves to train tracks instead of the chair of Australia\u2019s third-largest mining corporation.<\/p>\n\n\n\n

\u201cBusiness is causing global warming,\u201d he told the forum. \u201cBusiness will kill your children. Business is responsible for lethal humidity.\u201d Fortescue exported a record 192 million tonnes of iron ore last year. Forrest told the forum his ambition was to lead the world in ensuring metals and energy are delivered \u201cin a form that won\u2019t kill your children\u201d. It is an indication of how cosily woke the world of corporate investment has become that few have been prepared to call out the recklessness of betting the company\u2019s future on green hydrogen, which has yet to be manufactured at scale anywhere in the world and for which there is not yet a genuine market.<\/p>\n\n\n\n

Forrest described hydrogen as the \u201cmiracle molecule \u2026 the Swiss Army knife of energy and green products\u201d in a speech to the National Press Club two years ago. \u201cTo make green hydrogen, you simply split water. Any old water. It can be wastewater, desalinated water, seawater.\u201d Yet hydrogen is not an energy source, it is an energy carrier. It requires a grid-shattering amount of power to produce, roughly 50 TWh (terawatt-hours) per megatonne at an efficiency rate of 67pc.<\/p>\n\n\n\n

The heavy consumption of power alone condemns Fortescue\u2019s goal of manufacturing 15Mt by 2030 to the realm of fantasy. It is so far off the dial it makes the government\u2019s target of 82 per cent green electricity by 2030 look puny. In the highly unlikely event Australia is producing 180 TWh of electricity from renewables by 2030, Forrest could gobble the lot and still fall 570 TWh short of what he needs. Fortescue Future Industries NSW manager Joshua Moran set out the scale of the challenge at a conference in May last year. Fortescue will need to deliver 20GW of electrolysers a year by 2029, almost 20 times more than the current global output. It must install 20 wind turbine blades daily, each 80m long, and install 31 million solar modules a year.<\/p>\n\n\n\n

It is a measure of the strength of the prevailing vision among the corporate elite and journalists that so few have criticised Forrest\u2019s monomaniacal obsession with green hydrogen. The uncritical woke press has succumbed to groupthink, hailing as a good thing the $2bn government subsidy of the research and development of green hydrogen announced in this year\u2019s budget. Forrest, whose company stands to pocket a substantial chunk of that subsidy, somewhat ungratefully described it as \u201ckicking the can down the road\u201d, suggesting he\u2019d be putting his hand out for more.<\/p>\n\n\n\n

He can expect a sympathetic reception since Chris Bowen\u2019s ambition of turning Australia into a green energy export hub rests on the delusion that Australia\u2019s supply of renewables is inexhaustible.<\/p>\n\n\n\n

It is not. The supply of wind, solar and hydro power is constrained by the scarcity of land, as Forrest\u2019s Squadron Energy is finding. Squadron is a company in the Tattarang portfolio, which is privately owned by Andrew and Nicola Forrest.<\/p>\n\n\n\n

Squadron claims it will build 14GW of renewable energy by 2030 \u2013 a large chunk of the renewable energy required to meet Bowen\u2019s 2030 target. It has just 2.1GW in operation. The 5.5GW proposed or under construction is hitting roadblocks that put the timetable in doubt.<\/p>\n\n\n\n

The most serious setback was in the Upper Burdekin, a project run by Wind Lab, a global renewable energy development company owned by Squadron Energy and Federation Asset Management. It was to be financed through a Power Purchase Agreement with Apple.<\/p>\n\n\n\n

After adverse publicity about the destruction of 749ha of koala habitat and threats to other vulnerable species, the tech giant decided to pull out.<\/p>\n\n\n\n

The construction of Squadron\u2019s Clarke Creek wind farm came to an abrupt halt in May for reasons that still need to be fully explained. The lead times for construction mean the company\u2019s renewables target is as fanciful as its plans for green hydrogen. Yet this is Forrest\u2019s vision, which senior executives are required not to question.<\/p>\n\n\n\n

Irving L Janis, in his classic 1975 study of groupthink, identifies a lack of vigilance and excessive risk-taking as forms of temporary group derangement to which responsible executives are not immune. The chief executive manipulates his advisers to rubberstamp his own ill-conceived proposals and places subtle constraints to prevent a member from fully exercising his critical powers.<\/p>\n\n\n\n

Good businesses do not rely on the vision of one person but use the combined resources of a team each operating within their field of professional competence. A chairman\u2019s role is to temper the excessive zeal of executives. At Fortescue, it\u2019s the other way around.
The Australian<\/strong><\/em><\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

The wind and solar scammers raking in massive subsidies have been joined by the \u2018hydrogen huckster\u2019, just as eager to exploit an opportunity when he sees one; an opportunity to gouge untold $billions from taxpayers. The shakedown is said to be justified on the bogus pretext that they\u2019re out to save the planet.<\/p>\n","protected":false},"author":121246920,"featured_media":278827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691818216,691818087,691819849,691822626,691819094],"class_list":{"0":"post-278817","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-australia","9":"tag-global-warming","10":"tag-green-hydrogen","11":"tag-green-hydrogen-hoax","12":"tag-renewable-green-energy","14":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/07f95ff56e0a4cd46dcf504e9608ea7fc.jpg?fit=1600%2C799&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1ax3","jetpack-related-posts":[{"id":261166,"url":"https:\/\/climatescience.press\/?p=261166","url_meta":{"origin":278817,"position":0},"title":"Sign Here: Corporate Fraudsters Ready to Cash In On Grand \u2018Green\u2019 Hydrogen\u00a0Plans","author":"uwe.roland.gross","date":"06\/07\/2023","format":false,"excerpt":"Loose talk about fast bucks to be made in so-called \u2018green\u2019 hydrogen has shysters salivating. Much like the characters who have profited from the massive subsidies to utterly pointless wind and solar, the hydrogen huckster knows an opportunity when he sees one.","rel":"","context":"In \"Australia\u2019s Eastern Grid\"","block_context":{"text":"Australia\u2019s Eastern Grid","link":"https:\/\/climatescience.press\/?tag=australias-eastern-grid"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0fww_featured_HydrogenHype1-2880x1200-v2A-1-1980x825-1.png?fit=1200%2C500&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0fww_featured_HydrogenHype1-2880x1200-v2A-1-1980x825-1.png?fit=1200%2C500&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0fww_featured_HydrogenHype1-2880x1200-v2A-1-1980x825-1.png?fit=1200%2C500&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0fww_featured_HydrogenHype1-2880x1200-v2A-1-1980x825-1.png?fit=1200%2C500&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0fww_featured_HydrogenHype1-2880x1200-v2A-1-1980x825-1.png?fit=1200%2C500&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":374830,"url":"https:\/\/climatescience.press\/?p=374830","url_meta":{"origin":278817,"position":1},"title":"Kill Them All – Stop Wasting Our Money on Green Pipe Dreams","author":"uwe.roland.gross","date":"04\/11\/2025","format":false,"excerpt":"European energy expert Samuel Furfari sums up green hydrogen (GH) perfectly; \u201cIt\u2019s like burning Louis Vuitton handbags for heat.\u201d He says this because it is so very expensive. Federal law allocated $9.5 billion for GH hubs, and the Orwellian-named Inflation Reduction Act (Inflation Causing Act) expanded tax subsidies. Even with\u2026","rel":"","context":"In \"explosions\"","block_context":{"text":"explosions","link":"https:\/\/climatescience.press\/?tag=explosions"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/0Green-Energy-Hydrogen-Production-Concept-1.webp?fit=1200%2C686&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/0Green-Energy-Hydrogen-Production-Concept-1.webp?fit=1200%2C686&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/0Green-Energy-Hydrogen-Production-Concept-1.webp?fit=1200%2C686&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/0Green-Energy-Hydrogen-Production-Concept-1.webp?fit=1200%2C686&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/0Green-Energy-Hydrogen-Production-Concept-1.webp?fit=1200%2C686&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":349386,"url":"https:\/\/climatescience.press\/?p=349386","url_meta":{"origin":278817,"position":2},"title":"Investors Cut Mounting Losses By Ditching Grand \u2018Green\u2019 Hydrogen\u00a0Scam","author":"uwe.roland.gross","date":"10\/29\/2024","format":false,"excerpt":"Seems like only yesterday that billionaires backing \u2018green\u2019 hydrogen were falling over themselves to gouge subsidies out of taxpayers in order to create the next \u2018big thing\u2019 in energy. Then, all of a sudden, the big players started treating their \u2018green\u2019 hydrogen plans like diseased strangers.","rel":"","context":"In \"Australia\"","block_context":{"text":"Australia","link":"https:\/\/climatescience.press\/?tag=australia"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/10\/0Screenshot-2024-10-29-081855.png?fit=1200%2C672&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/10\/0Screenshot-2024-10-29-081855.png?fit=1200%2C672&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/10\/0Screenshot-2024-10-29-081855.png?fit=1200%2C672&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/10\/0Screenshot-2024-10-29-081855.png?fit=1200%2C672&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/10\/0Screenshot-2024-10-29-081855.png?fit=1200%2C672&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":342095,"url":"https:\/\/climatescience.press\/?p=342095","url_meta":{"origin":278817,"position":3},"title":"Invasion Of The Water Snatchers","author":"uwe.roland.gross","date":"09\/06\/2024","format":false,"excerpt":"Drought has hit Schleicher County hard. Lots of the stock tanks are dry. The only plants that appear to be thriving on this part of the Edwards Plateau are scrawny mesquite trees and the ever-present prickly pear cactus.","rel":"","context":"In \"green hydrogen\"","block_context":{"text":"green hydrogen","link":"https:\/\/climatescience.press\/?tag=green-hydrogen"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/09\/0acac88dc-0ca3-41d8-a3da-f26b2edb3b4c_1431x878.jpg?fit=1200%2C736&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/09\/0acac88dc-0ca3-41d8-a3da-f26b2edb3b4c_1431x878.jpg?fit=1200%2C736&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/09\/0acac88dc-0ca3-41d8-a3da-f26b2edb3b4c_1431x878.jpg?fit=1200%2C736&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/09\/0acac88dc-0ca3-41d8-a3da-f26b2edb3b4c_1431x878.jpg?fit=1200%2C736&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/09\/0acac88dc-0ca3-41d8-a3da-f26b2edb3b4c_1431x878.jpg?fit=1200%2C736&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":342293,"url":"https:\/\/climatescience.press\/?p=342293","url_meta":{"origin":278817,"position":4},"title":"\u201cColossal Waste of Money\u201d: Climate Alarmists Turn on Carbon Capture","author":"uwe.roland.gross","date":"09\/08\/2024","format":false,"excerpt":"The insane Net Zero revolution is starting to devour its own children. 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