moltenmetal said, "Though none of the proposed schemes I've seen for this purpose are actually technically feasible, that doesn't mean that someone won't come up with a feasible scheme in the future."
Just recently, Idaho National Laboratory was able to show that HTE (High Temperature Electrolysis) is what I would term technically feasible.(*
September 22, 2008)
Give or take a few weeks, full-scale HTE very well could have already occured allowing a miniature version of the system to be used in the production of 500 grams an hour (about .14 grams per second). With the same design a plant should produce around 2 grams a second, which is the energy equivalent according to science daily of 2 gallons (of petrol based fuel) a second. That is promising if you ask me. Of course there are significant hurdles to go over in order to get there. But (as with any significant technology) the problems just take time to understand and circumvent.
In my opinion, (with the current ideas that I have heard about), batteries will never be able to replace gasoline. They will definately supplement the use of gasoline, but barring some significant changes such as an ability to charge a battery in a matter of a few minutes, they will not be able to make fueling up as easy and economical (time-wise) as hydrogen will be.
Even with the obvious volumetric limitations that hydrogen pose, the energy is still there. In fact for the same 12 gallons gas energy equivalent in hydrogen you are talking about less than a third of the weight. I haven't done the math on it and I haven't really even done any ball park calculation on it, but I would be willing to bet that just based on the relative energy content of hydrogen versus regular gas, hydrogen would beat it considerably. And even with the added volume that hydrogen gives I beleive that the "added drag" is not going to over run the extra energy content inherent in hydrogen fuel.
Plus, really who is going to care that much about the size being to big? The most popular vehicles in america are not the small geo metros (even though I like that car a lot), they are the big Yukons and Ford and Dodge 4X4 trucks. Thus, I would say that size (whether or not something is compact) is not the determining issue. It is whether or not the thing can put out the kind of torque that feels adequate and whether or not fuel is "affordable" (whatever that means).
That said, there is a lot still to be done. I think I mentioned that earlier in my post. And to answer your comment/question, "But for some reason, we still perfer to mine and burn coal. Why do you think that is?"... people still "prefer" carbon based fuel creation because it is 1) prevalent, 2) people already are familiar with the methods to mine it, and
3) in order to move from carbon-based to a hydrogen economy there is going to be a lot of job displacement. Job displacement is not pleasant for anyone. Initially, the actual job "loss" is going to come from oversees in other countries that we get oil from. They will take the hit and we will have obtained their carbon based energy production jobs. However, as we start moving to a hydrogen based economy, (and after our oil reliance is decreased significantly), the jobs will have to shift from carbon based to hydrogen here in the United States. In the long run we will see many more jobs created in the US then are "lost" due to change in our energy infrastructure. Much more of our money will stay in the United States increasing our standard of living. That does nothing to ease the pain of the people who have to retrain or move to a different industry in order to make ends meet. Change is tough all the way around, but I think that everyone can see that the alternative to change is a lot worse. We can change with the times or else we can get ran over and end up eating dust economically.