Why is hydrogen gas a good option for an alternative fuel to fossil fuel?

fossil fuel may be depleted soon. but hydrogen gas can me made available.

also, if there are cheaper ways to split water into hydrogen and oxygen, then the better it is as water is available everywhere

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Fuel cells produce hydrogen gas from fossil fuels, and renewable fuel sources. Hydrogen can also be made from other energy (electric) sources and electrolysis of water, but compressing and transporting it poses it's own problems. Despite this, the production of hydrogen as a fuel source uses more energy than can be gained from the hydrogen itself.