Hydrogen: an energy source or carrier?

This is interesting. I'm hoping to find a refutation of this (I"m sure someone has tried).



The New Atlantis - The Hydrogen Hoax - Robert Zubrin

Hydrogen is only a source of energy if it can be taken in its pure form and reacted with another chemical, such as oxygen. But all the hydrogen on Earth, except that in hydrocarbons, has already been oxidized, so none of it is available as fuel. [...] The trouble is that making hydrogen requires more energy than the hydrogen so produced can provide. Hydrogen, therefore, is not a source of energy. It simply is a carrier of energy. And it is, as we shall see, an extremely poor one.

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