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Germany Is Building a Hydrogen Economy Before the Economics Are Ready

9,040 kilometers of pipeline. €18.9 billion. Paid reservations booked before a single commercial molecule flows. It's the most serious industrial policy in Europe—and it might still fail on arithmetic. The first hydrogen molecules arrived in Marl on a Tuesday in early August. They came about 120 kilometers from RWE's electrolysis plant in Lingen, through a pipeline network that just months ago was still being flushed with nitrogen, to Evonik's chemical park in the northern Ruhr. It wasn't much — commissioning quantities, not commercial volumes — but the symbolism was huge. Germany's hydrogen core network, 9,040 kilometers that will eventually carry fuel to every federal state, had just proved it could actually move renewable hydrogen from where it's made to where it's needed. RWE's CEO called it proof that "electrolysis, pipeline infrastructure and industrial demand can work together." He's right. Technically, it works. The question nobody ...