From 285511645bf341dbd4802d0753f71a199a9fa175 Mon Sep 17 00:00:00 2001 From: Michale Wentcher Date: Sat, 18 Jan 2025 06:05:35 +0100 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..a742863 --- /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 investigations](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) into the supply chains of a minimum of 2 renewable fuel manufacturers amid industry issues that some may be utilizing fraudulent feedstocks for [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) to secure financially rewarding federal [government](https://forest500.org/rankings/companies/mission-newenergy-limited) aids.
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EPA representative [Jeffrey](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) Landis told Reuters that the agency has [released audits](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) over the past year, however [declined](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) to determine the business targeted due to the fact that the investigations are ongoing.
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The production of [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) from sustainable ingredients, like utilized cooking oil, can make refiners a variety of state and federal environmental and environment subsidies, consisting of tradable credits under a program administered by the EPA called the [Renewable Fuel](https://www.bloomberg.com/profile/company/MNELF:US) [Standard](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). But fears have been installing that some products labeled as used cooking oil are in fact more [affordable](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and less sustainable virgin palm oil, an item that is related to logging and other [ecological damage](https://forest500.org/rankings/companies/mission-newenergy-limited).
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The problem entered into focus following a surge in used cooking oil exports from Asia in recent years that have said includes [unrealistically](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) high volumes relative to the quantity of cooking oil used and recuperated in the area. The [European Union](https://www.pinterest.com.au/missionnewenergy/) is likewise examining feedstocks over the [scams issues](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).
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The EPA audits started after the firm [upgraded domestic](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) supply-chain accounting [requirements](https://www.crunchbase.com/organization/mission-newenergy) in July 2023 for sustainable fuel manufacturers seeking to make [credits](https://www.businessnews.com.au/Company/Mission-NewEnergy) under the RFS, he said.
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"EPA has actually conducted audits of renewable fuel manufacturers given that July 2023 which consists of, to name a few things, an examination of the areas that utilized cooking oil utilized in eco-friendly fuel production was collected," he stated. "These examinations, however, are ongoing and we are unable to discuss ongoing enforcement investigations."
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U.S. senators from farm states have actually required more oversight of [biofuel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) feedstocks, stating federal companies should be as extensive in confirming imports as they are auditing domestic supply chains.
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"The Biden administration has produced vigorous standards to confirm, not simply trust, American producers, and it is essential that the very same examination is used to imported feedstocks," 6 U.S. senators, led by Roger Marshall and [Sherrod](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Brown, [composed](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) in a June 20 letter to federal companies.
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Another letter from 15 senators to the Treasury Department on July 30 prompted the administration to exclude imported feedstocks like UCO from an [extra tidy](https://forest500.org/rankings/companies/mission-newenergy-limited) fuel tax 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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