As a result of growing demand for petroleum, especially from fast growing economies of China and India, and because of the fast depletion of petroleum resources, last year price of petroleum continuously increased until it reached $150 per barrel. Since then, because of the economic recession, demand for petroleum subsided early this year, and went down to $40 per gallon. However, because of the picking up of some economical and industrial activity, demand for petroleum started to grow and recently its price reached $70 per barrel. These are all indications that we are running out of petroleum, as well as natural gas and coal.

Large scale utilization of petroleum, natural gas and coal is also resulting in the growing environmental problems. Big chunks of ice are breaking from Antarctica and Greenland causing sea levels to rise. Stronger storms, floods and droughts are hurting the world economy. The total environmental damage caused by global warming, climate change, ozone layer depletion, acid rains, pollution and oil spills, presently stand at $6 trillion per annum, and it is growing.

The Hydrogen Energy System is the permanent answer to these interrelated global problems. Under this system, each country will be able to produce the fuel it needs, i.e., hydrogen, to power its economy, using the primary energy sources available. Therefore, they will not be affected by the rising energy prices. This will speed up their economic growth and at the same time eliminate the environmental damage. Consequently, the Hydrogen Economy will help developing countries develop faster, protect the environment, and eliminate the tension between the developing countries and the industrial countries.

One important problem to be solved for the implementation of the Hydrogen Energy System is hydrogen storage, especially onboard hydrogen storage. In order to solve the hydrogen storage problems, there is research and development work in universities and industrial research laboratories around the world. At the II International Conference on Hydrogen Storage Technologies, recent research results will be presented by scientists from many countries of the world, presenting solution for hydrogen storage. The research endeavors of the scientists and engineers participating in this conference will make significant contributions to facilitate the milestone conversion to Hydrogen Economy.

I take this opportunity to congratulate the organizers of this important series of International Conferences, and wish all of the participants a very productive conference and pleasant days in the beautiful Moscow.

T. Nejat Veziroglu
Co Chair, HSTH2
President, International Association for Hydrogen Energy