Even McKinsey, a firm that I don't particularly like, thinks that the hydrogen sector's potential is 70% lower than originally estimated.
Yet a number of people have sounded the alarm. I spoke with people from the Institut de l'énergie Trottier. They were already telling us, in 2021 or 2022, that hydrogen was a bubble and that there wouldn't be any market for this fuel. It cost too much to produce and the market development seemed shaky.
The federal government now has a whole hydrogen strategy and is spending money on it. Yet when I look at the current literature on hydrogen, I can see that the market doesn't exist.
Are you planning to reassess your strategies? I don't think that it would be wise to let developers believe that they can count on funding to develop hydrogen projects. We know full well that these projects will never come to fruition given the non‑existent market and excessive productions costs.
Does the department have a strategy for reviewing the mechanisms and directions for government financial support given that the hydrogen bubble is slowly deflating?