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Aiming Toward A Hydrogen Economy - Essay Example

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Aiming Toward A Hydrogen Economy

Thus, when discussing the strength, weakness, opportunities and threats of the hydrogen fuel technology enthusiastically researched and developed in Iceland, the inevitability of the political, economical, social and technological implications continue to remain unabated at each step and level although their form may differ from country to country and region to region, depending on each country's political, economical, social and technological status, political system and relationship with the world community. (China Energy Industry - PEST Framework Analysis)
The main advantages of using Iceland as base for Hydrogen Fuel Technology are her abundant natural resources, her desire to appropriate technology to tap her resources through research and development without upsetting her ecological and environmental balance, and her potential to return to her pristine, original and idyllic landscapes through sustained innovation and tie up with major energy corporations such as Shell, DaimlerChrysler, etc.
Till the 1970s, Iceland was dependent on whatever energy she could muster from fossil fuel her lackluster economy could afford. The shift to Hydrogen fuel energy brought about a sea change economically, socially and corporately. It not only catapulted Iceland as a case study of immense potential and promise for other nations to emulate but also rejuvenated the nation's economy and social scenario. (Ken Mark and Jordon Mitchell, p12)
Iceland's proximity to affluent Western European nations, as also its own skilled and dedicated human resource provides it the potential to harness the latest and the best in terms of human skills and technological resources. With this proven record of pollution-free energy use Iceland's credentials as trend-setter in the important energy sector can only grow from strength to strength in the international arena.
Weakness
Despite Iceland's success with Hydrogen fuel technology, a universal change over to this form of energy is not viable as of now. Globally, hydrogen fuel technology is in its infancy and the world has a long way to go before its usage could be made safe and cost-effective enough for the end-user to switch over to the same extent as in the case of Iceland.
It is difficult and unsafe to store hydrogen in gaseous form. In its independent state, hydrogen burns out. In its liquefied form it is necessary to keep it at -217C. It is not possible to store and distribute hydrogen fuel in the existing infrastructure. A new infrastructure has to be created for its storage and distribution. Geothermal production of hydrogen is not possible ...Show more

Summary

Of late, the SWOT (Strength, Weakness, Opportunities, and Threats) analysis has started moving side by side with the PEST framework. By its very nature, for any business setup, SWOT has always been inseparably influenced and linked to the PEST framework. Only, while the SWOT concept has been around for some time, awareness about the PEST framework dawned much later.
Author : rooseveltsteube
Aiming Toward A Hydrogen Economy essay example
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