charliepeltier/mission-biotechnologies-sdn.-bhd
1
0
Code Issues Actions Packages Projects Wiki

Add US EPA Says it is Auditing Biofuel Producers' used Cooking Oil Supply

Maybelle Waldo 2025-01-11 21:50:55 +00:00
commit d89b7ee62a
1 changed files with 10 additions and 0 deletions
Show Stats Download Patch File Download Diff File Expand all files Collapse all files

10
US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md Normal file

@ -0,0 +1,10 @@
<br>By Leah Douglas<br>
<br>Aug 7 (Reuters) - The U.S. [Environmental Protection](https://stocktwits.com/symbol/MNEL) Agency has [released 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 2 [sustainable fuel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) producers amidst [market issues](https://pitchbook.com/profiles/company/51278-86) that some might be utilizing deceptive feedstocks for [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) to secure financially rewarding [federal government](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) aids.<br>
<br>EPA spokesperson Jeffrey Landis told Reuters that the agency has actually released audits over the past year, however declined to recognize the companies targeted since the investigations are ongoing.<br>
<br>The production of [biodiesel](https://www.bloomberg.com/profile/company/MNELF:US) from sustainable ingredients, like used cooking oil, can earn refiners a slew of state and federal ecological and environment aids, including tradable credits under a program administered by the EPA called the [Renewable Fuel](https://pitchbook.com/profiles/company/51278-86) Standard. But fears have been installing that some materials identified as [utilized](https://pitchbook.com/profiles/company/51278-86) cooking oil are actually cheaper and less [sustainable virgin](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) palm oil, a product that is connected with [logging](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and other [ecological damage](https://www.pinterest.com.au/missionnewenergy/).<br>
<br>The [concern](https://www.google.com/search?kgmid=/m/0cqd_rb) came into focus following a rise in [utilized cooking](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) oil exports from Asia in the last few years that analysts have actually said involves unrealistically high volumes relative to the quantity of cooking oil used and recuperated in the region. The European Union is also investigating [feedstocks](https://pitchbook.com/profiles/company/51278-86) over the fraud concerns.<br>
<br>The EPA audits started after the agency updated domestic supply-chain in July 2023 for renewable fuel manufacturers seeking to earn credits under the RFS, he stated.<br>
<br>"EPA has actually conducted audits of sustainable fuel manufacturers given that July 2023 that includes, amongst other things, an examination of the places that used cooking oil used in eco-friendly fuel production was gathered," he stated. "These examinations, however, are continuous and we are not able to talk about continuous enforcement investigations."<br>
<br>U.S. senators from farm states have actually required more oversight of [biofuel](https://stocktwits.com/symbol/MNEL) feedstocks, saying federal agencies need to be as extensive in [verifying imports](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) as they are [auditing domestic](https://www.crunchbase.com/organization/mission-newenergy) supply chains.<br>
<br>"The Biden administration has produced energetic standards to validate, not just trust, American producers, and it is vital that the same examination is used to imported feedstocks," six U.S. senators, led by [Roger Marshall](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) and Sherrod Brown, wrote in a June 20 letter to federal companies.<br>
<br>Another letter from 15 senators to the Treasury Department on July 30 urged the administration to [exclude imported](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) feedstocks like UCO from an [extra clean](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>