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Hydrogen and electricity may become the favoured twin energy carriers in a possible greenhouse driven future due to their lack of CO 2 -emissions at the point of use. It is shown that decarbonising fossil fuels to hydrogen with CO 2 being stored in deep geological formations represents the least expensive way of producing CO 2 -free hydrogen. For fossil fuels there seems to be a natural progression from fuel switching (coal to oil to natural gas) for low to moderate emission reduction pressure. For increasing pressure for reduction of emissions CO 2 -free (decarbonised) electricity from coal will be introduced followed by decarbonised electricity from natural gas and decarbonised hydrogen from natural gas.