Bill Overview
Title: COBALT Act of 2022
Description: This bill provides funding through the Defense Production Act Fund to increase stocks of domestically refined cobalt in the National Defense Stockpile. (The Defense Production Act of 1950 confers on the President a broad set of authorities to influence domestic industry in order to provide essential materials and goods needed for the national defense.)
Sponsors: Rep. Donalds, Byron [R-FL-19]
Target Audience
Population: People reliant on technology and electronics production sectors
Estimated Size: 3500000
- The legislation concerns the increase of domestically refined cobalt, which is a critical component in the production of batteries and electronics.
- Cobalt is an essential mineral in the production of lithium-ion batteries which are used in a wide range of consumer electronics, electric vehicles, and other technologies.
- Manufacturers dependent on cobalt for production processes will be directly impacted, as will consumers who rely on these products.
- Changes in the supply chain for cobalt may affect global production of technology devices, given that cobalt is a globally traded commodity.
Reasoning
- Our target population includes individuals working in the electronics and battery manufacturing sectors, as well as consumers and others indirectly affected by potential changes in product costs and availability.
- Given the budget constraints, the policy will have a moderate impact on the specific industry but smaller widespread effects due to the global nature of cobalt supply chains.
- The direct impact on consumers is likely to be minimal except through potentially improved product pricing or availability due to stabilized supply chains.
- Broad impacts are limited to sectors directly tied to battery and electronics production, with potential trickle-down effects in related areas such as electric vehicles.
Simulated Interviews
Electric Vehicle Battery Engineer (California)
Age: 35 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 20.0 years
Commonness: 4/20
Statement of Opinion:
- This policy could solidify cobalt supplies for our batteries, making production more predictable.
- If successful, it may reduce costs and foster stability in the supply chain.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 9 | 6 |
| Year 10 | 9 | 5 |
| Year 20 | 9 | 5 |
Electronics Supply Chain Manager (New Jersey)
Age: 42 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 3/20
Statement of Opinion:
- With more domestic cobalt production, we might see a less volatile supply chain.
- This could ease some of our logistical burdens and over-reliance on international supplies.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 5 |
| Year 20 | 7 | 5 |
Consumer Electronics Analyst (Texas)
Age: 50 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 5.0 years
Commonness: 2/20
Statement of Opinion:
- This initiative might slightly lower the volatility in electronics pricing over time.
- Domestic cobalt could align with broader market hopes from smaller-scale disruptions.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 5 |
Tech Consumer (Ohio)
Age: 29 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 8/20
Statement of Opinion:
- I hope this makes tech more sustainable, perhaps lowering costs too.
- However, I'm skeptical of how quickly any changes will reach consumers.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 6 |
| Year 10 | 6 | 5 |
| Year 20 | 6 | 5 |
Automotive R&D Specialist (Michigan)
Age: 40 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 15.0 years
Commonness: 5/20
Statement of Opinion:
- This will allow our R&D to progress without as much concern for supply volatility.
- It could encourage domestic innovation with reliable raw material supplies.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 7 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 8 | 5 |
| Year 10 | 8 | 4 |
| Year 20 | 8 | 4 |
Start-up Founder in Renewable Energy (New York)
Age: 23 | Gender: other
Wellbeing Before Policy: 8
Duration of Impact: 10.0 years
Commonness: 2/20
Statement of Opinion:
- This could signal a positive shift for sustainable tech ventures if it stabilizes the supply chain.
- I'm optimistic that it aligns with broader sustainability goals.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 7 |
| Year 3 | 9 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 6 |
| Year 20 | 8 | 5 |
Battery Factory Worker (Missouri)
Age: 38 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 20.0 years
Commonness: 6/20
Statement of Opinion:
- Hopefully, this policy means job security and factory expansions here.
- We've had times when raw materials have halted our work for weeks.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 7 | 5 |
| Year 10 | 8 | 4 |
| Year 20 | 8 | 4 |
Environmental Activist (Oregon)
Age: 34 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 1/20
Statement of Opinion:
- While I'm concerned about the environmental implications of more mining, domestic refining might be more controlled.
- This could be good if managed sustainably. The details matter.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 6 | 5 |
Electric Vehicle Sales Manager (Alabama)
Age: 45 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 15.0 years
Commonness: 3/20
Statement of Opinion:
- If this policy can help lower battery costs, it could benefit sales and market growth.
- Policy measures that stabilize supply could boost consumer confidence.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 9 | 5 |
| Year 20 | 8 | 5 |
Retired Electronics Manufacturer (Illinois)
Age: 60 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 5.0 years
Commonness: 7/20
Statement of Opinion:
- From experience, stable material supply could mean frequent innovation and production growth.
- It's a positive step given historical dependencies and shortages.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 6 |
| Year 20 | 8 | 6 |
Cost Estimates
Year 1: $50000000 (Low: $40000000, High: $60000000)
Year 2: $45000000 (Low: $35000000, High: $55000000)
Year 3: $40000000 (Low: $30000000, High: $50000000)
Year 5: $35000000 (Low: $25000000, High: $45000000)
Year 10: $30000000 (Low: $20000000, High: $40000000)
Year 100: $30000000 (Low: $20000000, High: $40000000)
Key Considerations
- Environmental impacts of increased cobalt refining and mining activities.
- Geopolitical implications of reducing reliance on foreign cobalt, particularly from countries with unstable political climates.
- Technology advancements and investments needed to efficiently refine cobalt domestically.