Green hydrogen–where it’s produced entirely using renewable resources–currently costs at least twice as much as producing it from hydrocarbons. Depending on the details, it can be seven times as much. Pink hydrogen–water electrolysis powered by nuclear–is barely much better.

The vast majority of production comes from hydrocarbons. Most of it currently goes to the agricultural industry for making nitrate fertilizer.

This is entirely the oil industry trying to open up a new market before it loses its current one.