Bill Overview
Title: CREST Act of 2022
Description: This bill expands the current research and development programs of the Department of Energy (DOE) for capturing and storing carbon dioxide to include methods that harness natural processes, such as the removal of carbon dioxide from the atmosphere and its storage in geological, biobased, or ocean reservoirs. In addition, the bill establishes a five-year pilot program under which DOE must purchase from certain facilities carbon dioxide removed from the atmosphere or upper hydrosphere.
Sponsors: Sen. Collins, Susan M. [R-ME]
Target Audience
Population: Individuals affected by climate change
Estimated Size: 330000000
- The CREST Act targets carbon removal technologies, which are at the core of climate change mitigation.
- Climate change affects every person on the planet either directly or indirectly, through impacts on weather patterns, economic conditions, and natural ecosystems.
- Carbon removal and storage efforts are crucial in reducing the global carbon footprint and combatting climate change.
- The wellbeing of future generations globally is tied to the efforts of reducing atmospheric carbon.
Reasoning
- The CREST Act aims to mitigate the effects of climate change by capturing and storing carbon dioxide, which affects various segments of the population differently.
- Those employed in sectors related to carbon removal technology or impacted by climate change may see direct benefits or impacts.
- Large population centers and industries reliant on carbon-intensive operations might be indirectly affected through regulatory changes, funding shifts, or new opportunities.
- Considerations for how directly individuals are affected by climate change must account for geographic, economic, and occupational diversity within the U.S.
Simulated Interviews
Software Engineer (New York, NY)
Age: 45 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 15/20
Statement of Opinion:
- The CREST Act is crucial for reducing carbon footprint.
- Happy to see government action on climate changes, but I'm not directly involved with carbon removal technologies.
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 |
Environmental Scientist (Los Angeles, CA)
Age: 32 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 20.0 years
Commonness: 7/20
Statement of Opinion:
- I am optimistic about the implementation of the CREST Act.
- This policy is beneficial for my work and for the environment.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 9 | 8 |
| Year 3 | 9 | 7 |
| Year 5 | 9 | 6 |
| Year 10 | 10 | 6 |
| Year 20 | 10 | 5 |
Petroleum Engineer (Houston, TX)
Age: 28 | Gender: other
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- The policy might affect my job negatively in the short term.
- However, it could create long-term opportunities in sustainable energy sectors.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 8 | 4 |
Farmer (Des Moines, IA)
Age: 54 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 13/20
Statement of Opinion:
- I support any actions that might stabilize weather patterns and improve crop yields.
- I hope the policy helps mitigate extreme weather events.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 4 |
| Year 5 | 6 | 4 |
| Year 10 | 7 | 3 |
| Year 20 | 8 | 3 |
Insurance Agent (Miami, FL)
Age: 40 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 15.0 years
Commonness: 14/20
Statement of Opinion:
- Rising sea levels are a huge concern in my profession and community.
- The CREST Act could help by reducing factors that lead to rising seas.
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 | 9 | 3 |
Tech Startup Founder (San Francisco, CA)
Age: 29 | Gender: male
Wellbeing Before Policy: 9
Duration of Impact: 10.0 years
Commonness: 5/20
Statement of Opinion:
- The CREST Act is an opportunity to expand our business.
- I'm hopeful this will accelerate innovation within our industry.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 9 |
| Year 2 | 9 | 8 |
| Year 3 | 10 | 7 |
| Year 5 | 10 | 7 |
| Year 10 | 10 | 6 |
| Year 20 | 10 | 5 |
Retired (Phoenix, AZ)
Age: 65 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 20.0 years
Commonness: 18/20
Statement of Opinion:
- I worry about the financial impacts of climate issues on my grandchildren.
- Policies that help reduce these risks are a priority for me.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 5 |
| Year 20 | 9 | 4 |
High School Teacher (Denver, CO)
Age: 38 | Gender: other
Wellbeing Before Policy: 8
Duration of Impact: 10.0 years
Commonness: 12/20
Statement of Opinion:
- The CREST Act is essential for educating the next generation.
- I'm hopeful it will inspire more students to pursue environmental studies.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 9 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 6 |
| Year 20 | 9 | 5 |
Manufacturing Plant Owner (Chicago, IL)
Age: 50 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- Our industry must adapt or risk becoming obsolete.
- The CREST Act might provide paths to reduce emissions while maintaining business viability.
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 | 7 | 4 |
| Year 10 | 7 | 3 |
| Year 20 | 7 | 2 |
Nurse (Seattle, WA)
Age: 36 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 20.0 years
Commonness: 16/20
Statement of Opinion:
- Health risks from climate change are very real and concerning.
- Any policy addressing these issues is welcome.
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 | 9 | 6 |
| Year 20 | 9 | 5 |
Cost Estimates
Year 1: $500000000 (Low: $400000000, High: $700000000)
Year 2: $550000000 (Low: $450000000, High: $750000000)
Year 3: $600000000 (Low: $500000000, High: $800000000)
Year 5: $650000000 (Low: $550000000, High: $850000000)
Year 10: $0 (Low: $0, High: $0)
Year 100: $0 (Low: $0, High: $0)
Key Considerations
- The pilot program is time-bound, and the outcomes are uncertain, impacting both costs and potential savings.
- The environmental benefits might not be immediately visible, requiring sustained public support and investment.
- Technological advancements may alter cost and return expectations over time.
- The policy may require alignment with international standards and cooperation to maximize effectiveness.