From 0bc84508ce8f6bb3f25f486307c9dbdc13addf74 Mon Sep 17 00:00:00 2001 From: Otilia Vasser Date: Sun, 12 Jan 2025 00:41:58 +0000 Subject: [PATCH] Add US EPA Says it is Auditing Biofuel Producers' used Cooking Oil Supply --- ...ing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md | 10 ++++++++++ 1 file changed, 10 insertions(+) create mode 100644 US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md diff --git a/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md new file mode 100644 index 0000000..c653de3 --- /dev/null +++ b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md @@ -0,0 +1,10 @@ +
By Leah Douglas
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Aug 7 (Reuters) - The U.S. Epa has [launched examinations](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) into the supply chains of at least two [sustainable fuel](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) [producers amidst](https://stocktwits.com/symbol/MNEL) market concerns that some may be using deceptive feedstocks for [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) to [secure rewarding](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) government aids.
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EPA representative Jeffrey Landis told Reuters that the firm has actually launched audits over the past year, however declined to identify the business targeted since the examinations are [ongoing](https://pitchbook.com/profiles/company/51278-86).
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The production of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) from sustainable ingredients, like utilized cooking oil, can earn refiners a multitude of state and federal ecological and climate aids, including tradable credits under a program administered by the EPA called the Renewable Fuel [Standard](https://www.businessnews.com.au/Company/Mission-NewEnergy). But fears have actually been [installing](https://www.pinterest.com.au/missionnewenergy/) that some products identified as utilized cooking oil are actually less expensive and less sustainable virgin palm oil, an item that is connected with logging and other environmental damage.
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The problem entered focus following a rise in used cooking oil exports from Asia over the last few years that [analysts](https://pitchbook.com/profiles/company/51278-86) have said includes unrealistically high volumes relative to the amount of cooking oil used and recovered in the region. The European Union is likewise investigating feedstocks over the [scams issues](https://www.google.com/search?kgmid=/m/0cqd_rb).
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The EPA audits began after the firm updated domestic supply-chain accounting requirements in July 2023 for eco-friendly fuel producers looking for to make [credits](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) under the RFS, he said.
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"EPA has conducted audits of renewable fuel manufacturers because July 2023 which includes, to name a few things, an assessment of the areas that utilized cooking oil utilized in renewable fuel production was gathered," he said. "These investigations, however, are ongoing and we are unable to go over continuous enforcement examinations."
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U.S. senators from farm states have required more oversight of [biofuel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) feedstocks, stating federal companies must be as strenuous in verifying imports as they are auditing [domestic supply](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) chains.
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"The Biden administration has developed energetic standards to confirm, not just trust, American manufacturers, and it is vital that the very same scrutiny is used to imported feedstocks," 6 U.S. senators, led by [Roger Marshall](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and [Sherrod](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Brown, wrote in a June 20 letter to federal firms.
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Another letter from 15 senators to the Treasury Department on July 30 prompted the administration to [exclude imported](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) [feedstocks](https://www.pinterest.com.au/missionnewenergy/) like UCO from an [additional tidy](https://www.bloomberg.com/profile/company/MNELF:US) fuel tax [credit program](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) passed in the [Inflation](https://stocktwits.com/symbol/MNEL) Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)
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