Bill Overview
Title: Renewable Diesel and Sustainable Aviation Fuel Parity Act of 2022
Description: This bill addresses renewable diesel and sustainable aviation fuel, including by (1) allowing such fuels to qualify for loan guarantees under the Energy Policy Act, and (2) requiring the Energy Information Administration within the Department of Energy to report on certain information related to U.S. production and foreign imports of renewable diesel and sustainable aviation fuel.
Sponsors: Sen. Barrasso, John [R-WY]
Target Audience
Population: People involved in the renewable diesel and sustainable aviation fuel industries
Estimated Size: 300000
- Renewable diesel and sustainable aviation fuel industries are the primary sectors affected.
- These fuels are part of efforts to reduce carbon emissions, targeting the fuel and transport sectors.
- Airlines and other transportation industries using diesel will be influenced by changes in fuel availability and costs, potentially affecting their operations.
- Consumers of goods and services provided by these industries may experience indirect effects.
- Legislative encouragement of renewable fuels can influence global production of these fuels.
- Loan guarantees and reporting requirements can affect investments and strategic decisions in the energy and transportation sectors.
Reasoning
- The policy mainly affects those in the renewable diesel and sustainable aviation fuel industries, which include producers, suppliers, and businesses reliant on these fuels.
- The wellbeing changes due to this policy can be seen in economic impacts, job security, and environmental considerations as these industries evolve.
- Not everyone in the general population will be directly impacted, so a diversified sample with weighted commonness will better reflect overall societal impact.
- Some individuals may experience no changes in their wellbeing if their work or life does not intersect with these industries.
- The loan guarantees can facilitate growth and innovation, impacting professional satisfaction and potentially leading to better job outcomes for people involved in these areas.
Simulated Interviews
Renewable Energy Engineer (Houston, TX)
Age: 45 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 20.0 years
Commonness: 7/20
Statement of Opinion:
- This policy could open up more opportunities for expansion in our company.
- Better loan terms can help us scale our operations faster.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 9 | 7 |
Airline Operations Manager (Atlanta, GA)
Age: 38 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 8/20
Statement of Opinion:
- Having more sustainable options is invaluable from both a business and environmental standpoint.
- The policy will hopefully lower our fuel costs in the long run, increasing profitability.
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 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 5 |
Policy Analyst (Seattle, WA)
Age: 29 | Gender: other
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 5/20
Statement of Opinion:
- It's crucial for the U.S. to expand its renewable energy sources, and this policy aligns with that goal.
- The focus on sustainable aviation fuel is forward-thinking and necessary.
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 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 7 | 7 |
Logistics Coordinator (Chicago, IL)
Age: 54 | Gender: male
Wellbeing Before Policy: 4
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- Potential shifts to renewable diesel might affect our operations but details are unclear.
- Could mean more stable fuel costs in long term but changes are uncertain in short term.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 4 | 4 |
| Year 2 | 5 | 4 |
| Year 3 | 6 | 4 |
| Year 5 | 6 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 6 | 4 |
Biofuel Research Scientist (Des Moines, IA)
Age: 43 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 20.0 years
Commonness: 6/20
Statement of Opinion:
- I'm hopeful this leads to more funding in our field.
- This could accelerate technological advancements we’ve been working towards.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 8 | 5 |
| Year 5 | 9 | 6 |
| Year 10 | 9 | 6 |
| Year 20 | 9 | 6 |
Environmentalist (Los Angeles, CA)
Age: 50 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 20.0 years
Commonness: 5/20
Statement of Opinion:
- Supports policies promoting renewable energy and reducing emissions.
- Recognizes industrial and societal shifts take time but are necessary.
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 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 8 | 7 |
Oil Industry Consultant (Tulsa, OK)
Age: 60 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 8/20
Statement of Opinion:
- Sees renewable fuels as a long-term necessity.
- Believes market adaptation is essential, though slow.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 7 |
| Year 2 | 6 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Small Business Owner (Portland, OR)
Age: 34 | Gender: other
Wellbeing Before Policy: 4
Duration of Impact: 7.0 years
Commonness: 9/20
Statement of Opinion:
- Worried about initial costs but optimistic about future cost savings with renewables.
- Expect fuel stability to improve service efficiency.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 4 |
| Year 2 | 6 | 4 |
| Year 3 | 6 | 4 |
| Year 5 | 7 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 6 | 4 |
Investor (New York, NY)
Age: 31 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 15.0 years
Commonness: 6/20
Statement of Opinion:
- Excited about potential new investment opportunities.
- This policy can create a surge in green investments.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 10 | 8 |
| Year 20 | 9 | 8 |
Student (Austin, TX)
Age: 26 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- Hopes to see more career opportunities in renewables.
- Finds energy transition policies encouraging for future prospects.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 8 | 7 |
Cost Estimates
Year 1: $5000000 (Low: $3000000, High: $7000000)
Year 2: $5000000 (Low: $3000000, High: $7000000)
Year 3: $5000000 (Low: $3000000, High: $7000000)
Year 5: $5000000 (Low: $3000000, High: $7000000)
Year 10: $5000000 (Low: $3000000, High: $7000000)
Year 100: $5000000 (Low: $3000000, High: $7000000)
Key Considerations
- Level of uptake for loan guarantees by the renewable fuel industry.
- Potential defaults on loans which may affect government costs.
- Extent to which increased reporting improves market efficiencies.
- Changes in international policies regarding renewable fuels that could affect U.S. market dynamics.