According to Exxon Mobil’s Senior Vice President, Jack Williams, costs present the primary hurdle in the quest to expand the utilization of sustainable aviation fuel (SAF).
SAF, constituting merely 0.2% of the jet fuel market, stands as a focal point for policymakers like U.S. President Joe Biden, aiming to fulfill objectives in curbing carbon emissions.
However, despite its promise, SAF, derived from organic sources such as plant or animal materials, inclusive of used cooking oil or agricultural residue, proves to be up to five times pricier than conventional fuel.
Williams emphasized this significant drawback, stating, “There’s one big negative and that’s the cost.” Addressing a conference near Chicago, he underscored the necessity to strategize on cost reduction to facilitate the growth of SAF.
Williams projected a potential surge in jet fuel demand from the current 7 million barrels per day to 12 million barrels per day by 2050, aligning with the International Energy Agency’s estimate for whole jet fuel demand, which currently matches the existing production of jet fuel at 15.8 million gallons per year, according to U.S. government data.
Highlighting the catalytic role of the Biden administration’s Inflation Reduction Act, Williams cited it as a propellant for biofuel production, alongside initiatives for carbon capture and storage, as well as low carbon hydrogen.
In 2021, Biden initiated a challenge aimed at supplying a minimum of 3 billion gallons of SAF annually by 2030, underlining a concerted effort toward sustainability.
Noteworthy commitments have emerged from major airlines, including Delta Air Lines and Southwest Airlines, both expressing intentions to substitute 10% of their jet fuel with SAF by 2030.
