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10 HOT Nuggets
#10 | Taking off
Sustainable aviation fuel production is taking off, literally, with 18.7 million gallons of renewable jet fuel RINs generated in the first quarter of 2024, up 250% year-on-year.
Better yet - production in the first three months of this year has nearly surpassed levels it took us nine months to reach last year.
While we are seeing tremendous growth in SAF production, we are just at the tip of the iceberg as the Biden administration’s ambitious climate goals will require 3 billion gallons of the green aviation fuel by the year 2030 - representing a 10% blend with petroleum jet fuel.
Keep in mind this is only through 2030 and a 10% blend… meaning we have the other 90% to conquer over the next two decades in order to meet our goal of net-zero by 2050.
#9 | Wheels up
Additionally, more Americans are flying than ever before as a record 2.95 million travelers passed through TSA checkpoints on Saturday, May 25.
This tops the highest-volume travel day of Memorial Day weekend last year by more than 200,000 people and a whopping 500,000 more than the highest over Memorial Day weekend 2022.
#8 | Back in action
After a two-month hiatus, soybean oil was back in action in March with more than 1 billion pounds of everyone’s favorite veg oil used in biomass-based diesel production.
This is the first month we have surpassed 1 billion pounds used per month since its record-setting 8-month streak that started in May and lasted through the end of 2023.
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