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The Guardian - AU
The Guardian - AU
Environment
Peter Hannam

Australia warned it could lose out to ‘huge and aggressive’ green hydrogen support in US and Middle East

Guy Debelle United States Hydrogen Australia Middle East Fortescue Future Industries Inflation
Fortescue Future Industries director and former RBA deputy governor Guy Debelle.
Fortescue Future Industries director and former RBA deputy governor Guy Debelle points out risks to Australia’s green hydrogen industry. Photograph: Jason Reed/Reuters

Australia’s natural renewable energy advantage in the race to create a green hydrogen industry is at risk of being overwhelmed by “huge and aggressive” policy support in the US and the Middle East, according to Fortescue Future Industries’ Guy Debelle.

Debelle, formerly FFI’s chief financial officer and now serving as a director, said the Biden administration’s Inflation Reduction Act was mostly aimed at accelerating decarbonisation and was “one of the largest pieces of industrial policy we’ve ever seen”. Without a formal spending cap, it could eventually top $US1trillion ($1.44tn).

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