commit 3bfc63d1e6b1091dcd07a444d1935a9c7afa49c1 Author: Fausto Whitmire Date: Sat Jan 11 13:22:59 2025 +0000 Add US EPA Says it is Auditing Biofuel Producers' Pre-owned Cooking Oil Supply diff --git a/US EPA Says it is Auditing Biofuel Producers%27 Pre-owned Cooking Oil Supply.-.md b/US EPA Says it is Auditing Biofuel Producers%27 Pre-owned Cooking Oil Supply.-.md new file mode 100644 index 0000000..ce66def --- /dev/null +++ b/US EPA Says it is Auditing Biofuel Producers%27 Pre-owned Cooking Oil Supply.-.md @@ -0,0 +1,10 @@ +
By Leah Douglas
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Aug 7 (Reuters) - The U.S. Epa has [released investigations](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 a minimum of 2 eco-friendly fuel producers in the middle of market issues that some might be using deceitful feedstocks for [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) to secure lucrative government subsidies.
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[EPA spokesperson](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Jeffrey Landis informed Reuters that the agency has actually introduced audits over the previous year, however decreased to [determine](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) the companies targeted since the examinations are ongoing.
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The [production](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) of [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) from ingredients, like utilized cooking oil, can make refiners a slew of state and federal environmental and environment subsidies, including tradable [credits](https://www.bloomberg.com/profile/company/MNELF:US) under a program administered by the EPA called the Renewable Fuel Standard. But fears have been installing that some supplies identified as used cooking oil are really less [expensive](https://www.crunchbase.com/organization/mission-newenergy) and less [sustainable virgin](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) palm oil, an item that is associated with [logging](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and other [environmental damage](https://pitchbook.com/profiles/company/51278-86).
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The problem entered focus following a surge in used cooking oil exports from Asia in recent years that [analysts](https://forest500.org/rankings/companies/mission-newenergy-limited) have said includes unrealistically high volumes relative to the amount of cooking oil used and recovered in the area. The European Union is also investigating feedstocks over the [scams concerns](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html).
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The EPA audits started after the [agency updated](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) domestic supply-chain accounting requirements in July 2023 for eco-friendly fuel manufacturers seeking to earn credits under the RFS, he stated.
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"EPA has actually conducted audits of eco-friendly fuel producers considering that July 2023 that includes, to name a few things, an evaluation of the areas that used cooking oil utilized in sustainable fuel production was gathered," he said. "These investigations, nevertheless, are ongoing and we are not able to go over ongoing enforcement examinations."
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U.S. senators from farm states have actually required more [oversight](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of [biofuel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) feedstocks, stating federal companies need to be as strenuous in validating imports as they are [auditing domestic](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [supply chains](https://www.investing.com/equities/mission-newenergy-ltd-company-profile).
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"The Biden administration has created energetic standards to verify, not just trust, American manufacturers, and it is important that the same examination is applied to imported feedstocks," six U.S. senators, led by Roger Marshall and Sherrod 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 advised the administration to [exclude imported](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) [feedstocks](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) like UCO from an extra tidy [fuel tax](https://stocktwits.com/symbol/MNEL) credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)
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