Sustainable aviation fuel (SAF) has emerged as a beacon of hope in the fight against climate change within the aviation industry. Derived from renewable sources like used cooking oil or agricultural waste, SAF boasts the potential to slash carbon emissions by up to 80% compared to traditional jet fuel. However, a significant hurdle stands in the way of widespread adoption – cost.
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This challenge was recently highlighted by Jack Williams, Senior Vice President of Exxon Mobil, at a conference near Chicago. He pinpointed the high price tag of SAF, which can be up to five times more expensive than conventional jet fuel, as the primary obstacle to its wider use. Currently, SAF represents a mere 0.2% of the jet fuel market, despite strong support from policymakers like President Joe Biden who view it as a key tool for achieving carbon emission reduction goals.
While acknowledging the hefty cost, Williams expressed optimism for the future. He pointed to the potential for significant demand growth, estimating a rise from the current 7 million barrels a day to a staggering 12 million barrels a day by 2050. To bridge this gap, Williams emphasized the need for cost-reduction strategies. He sees the recently passed Inflation Reduction Act as a potential catalyst, offering support for biofuel production, carbon capture and storage, and low-carbon hydrogen – all technologies that could contribute to making SAF more affordable. The high cost of SAF is a complex issue. Factors like limited production capacity, feedstock availability, and the nascent stage of the technology all contribute to the hefty price tag. However, there are ongoing efforts to address these challenges. Investments in research and development are paving the way for more efficient production processes. Additionally, exploring alternative feedstocks and scaling up production facilities are crucial steps towards cost reduction.
The path towards cleaner skies through SAF is promising, but it requires overcoming the cost barrier. Collaboration between industry leaders like Exxon Mobil, policymakers, and research institutions is vital to achieve this goal. As production scales up and technological advancements bring down costs, SAF has the potential to revolutionize the aviation industry, paving the way for a more sustainable future for air travel.