SAF costs must be lower, ExxonMobil VP says
3/22/2024 10:50:00 AM
(Reuters) - Costs are the main obstacle to increasing the use of SAF said ExxonMobil Senior Vice President Jack Williams.
SAF, a biofuel made from plant or animal materials including used cooking oil or agricultural waste, can reduce carbon emissions by up to 80% compared with traditional jet fuel. But it is up to five times more expensive than regular fuel.
"There's one big negative and that's the cost," Williams said at a conference near Chicago. "As we think about how we want to grow SAF ... we have got to focus on how do we minimize the costs."
Williams described the Biden administration's Inflation Reduction Act as the catalyzing action for biofuel production as well as carbon capture and storage and low carbon hydrogen.
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