Bill Overview
Title: Strategy to Reduce Russian Energy Influence Act of 2022
Description: This bill requires the Department of State to report to Congress an evaluation of how federal laws and authorities can be used to counter Russia's energy influence globally. The report must include a strategy to reduce or replace Russia's supply of energy products in global markets.
Sponsors: Sen. Cornyn, John [R-TX]
Target Audience
Population: People globally relying on energy markets impacted by Russian exports
Estimated Size: 333000000
- The bill seeks to counter Russia's energy influence globally, which means many countries and their populations currently dependent on Russian energy might be impacted.
- Russia is a major exporter of oil and natural gas, which are essential energy sources for many countries, industries, and individuals globally.
- In 2021, about 3.5 billion people lived in Europe and Asia, where Russian energy exports are most impactful.
- European countries, in particular, rely heavily on Russian natural gas, potentially impacting hundreds of millions in the EU alone.
- The global market dynamics of energy prices and supply could affect the entire world population by changing prices of gas and goods.
Reasoning
- The policy has a global perspective which might only indirectly affect US residents by altering global energy prices.
- Considering the budget constraint, direct and sizeable impacts may be limited to industrial sectors or consumers directly involved in energy markets, especially given the US already has significant energy independence.
- The common US resident might experience low to medium impact due to changes in gas prices or economic ripple effects from larger global energy shifts.
- Different demographics across age, occupation, and location will have varying opinions and experiences with any change in energy policy.
Simulated Interviews
Oil Industry Analyst (Houston, Texas)
Age: 45 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- I think this policy might actually help stabilize the market and brings in more strategic independence.
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 | 8 | 6 |
| Year 20 | 8 | 5 |
Financial Analyst (New York, NY)
Age: 34 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 5/20
Statement of Opinion:
- Any change that induces volatility could be concerning for investments, but opportunistic for those well-prepared.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 7 | 4 |
Environmental Scientist (Seattle, Washington)
Age: 29 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 20.0 years
Commonness: 4/20
Statement of Opinion:
- This could be a way to push for more renewable sources. Any reduction in dependence on foreign fossil fuel is good.
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 | 9 | 8 |
| Year 10 | 9 | 8 |
| Year 20 | 9 | 8 |
Automotive Factory Worker (Detroit, Michigan)
Age: 62 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 15/20
Statement of Opinion:
- I worry about gas prices going up with any energy market shake-up. We've seen this before.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 4 |
| Year 3 | 6 | 4 |
| Year 5 | 6 | 4 |
| Year 10 | 6 | 3 |
| Year 20 | 5 | 3 |
Farmer (Midland, Texas)
Age: 52 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 20.0 years
Commonness: 8/20
Statement of Opinion:
- Reducing reliance on any single energy source or foreign energy is always good for my costs and stability.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 5 |
| Year 10 | 8 | 5 |
| Year 20 | 8 | 4 |
University Student (Boston, Massachusetts)
Age: 23 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 10/20
Statement of Opinion:
- Could be a good thing if it leads to investments in newer technologies. I'm not sure about the immediate effect, though.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 9 | 7 |
Small Business Owner (Phoenix, Arizona)
Age: 48 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 12/20
Statement of Opinion:
- Keeping energy markets stable helps my business predict costs better.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 7 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 7 | 5 |
Tech Entrepreneur (Miami, Florida)
Age: 37 | Gender: other
Wellbeing Before Policy: 9
Duration of Impact: 15.0 years
Commonness: 7/20
Statement of Opinion:
- Love any policy that could drive the adoption of renewables faster, but it's all about execution and cost.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 9 |
| Year 2 | 9 | 9 |
| Year 3 | 9 | 8 |
| Year 5 | 10 | 8 |
| Year 10 | 10 | 8 |
| Year 20 | 10 | 8 |
Public School Teacher (Chicago, Illinois)
Age: 54 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 20.0 years
Commonness: 15/20
Statement of Opinion:
- The bigger picture is important for the environment and economy, but I hope it doesn't hit us with costs too soon.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 8 | 5 |
Energy Policy Researcher (San Francisco, California)
Age: 41 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 20.0 years
Commonness: 3/20
Statement of Opinion:
- This policy could enhance US energy security and influence. I hope it aligns with climate goals.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 10 | 6 |
Cost Estimates
Year 1: $5000000 (Low: $3000000, High: $7000000)
Year 2: $5000000 (Low: $3000000, High: $7000000)
Year 3: $0 (Low: $0, High: $0)
Year 5: $0 (Low: $0, High: $0)
Year 10: $0 (Low: $0, High: $0)
Year 100: $0 (Low: $0, High: $0)
Key Considerations
- The success of the strategy heavily depends on geopolitical developments and global cooperation.
- Long-term shifts in energy markets would require persistent international engagement.
- Potential resistance from countries deeply reliant on Russian energy supplies may present challenges.