Renewable Diesel Driving Low Carbon Results

Electric Vehicle (EV) Myth: Zero Emissions Myth: Zero Emissions Fact: Significant Emissions from EV Life Cycle Mining/Extraction CO₂ Cobalt & Rare Earth Processing CO₂ ↑ Manufacturing EVs Power Generation • Life cycle emissions from EVs are significant from mining raw materials to fabrication to delivery to the showroom Tons CO₂ 12 О Before it leaves the showroom, 12 tons of CO2 emissions have already been generated vs. 6 tons of CO₂ emissions from cars fueled by gasoline О Two times as much CO2 emissions are generated compared to cars fueled by gasoline • • • 25 tons of CO2 emissions are needed to make an EV that can drive a similar range as a car fueled by gasoline "The problem is that batteries are big and heavy. The more weight you're trying to move, the more batteries you need to power the vehicle. But the more batteries you use, the more weight you add-and the more power you need. Even with big breakthroughs in battery technology, electric vehicles will probably never be a practical solution for things like 18-wheelers, cargo ships, and passenger jets. Electricity works when you need to cover short distances, but we need a different solution for heavy, long-haul vehicles" - Gates Notes Southwest Research Institute Ted Talk, presented by Graham Conway INVESTOR PRESENTATION | JUNE 2021 10 8 6 4 CO₂ ↑ CO₂ Embedded CO2 Emissions (zero miles traveled) 2 Car Fueled by Battery Electric Gasoline Vehicle 2x higher emissions from mining raw materials to fabrication to delivery Before it leaves the showroom, an EV emits twice the CO2 emissions compared to a car fueled by gasoline Valero 42

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