From 420375981aa46619e6e3b6d2a0a7336f02775998 Mon Sep 17 00:00:00 2001 From: Lea Boan Date: Sat, 11 Jan 2025 21:48:38 +0300 Subject: [PATCH] Add 'US EPA Says it is Auditing Biofuel Producers' Secondhand Cooking Oil Supply' --- ...ofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md | 10 ++++++++++ 1 file changed, 10 insertions(+) create mode 100644 US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md diff --git a/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md new file mode 100644 index 0000000..3e876dd --- /dev/null +++ b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md @@ -0,0 +1,10 @@ +
By Leah Douglas
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Aug 7 (Reuters) - The U.S. Epa has actually [introduced examinations](https://www.pinterest.com.au/missionnewenergy/) into the supply chains of at least 2 [renewable fuel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) manufacturers amid [industry issues](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) that some may be utilizing fraudulent feedstocks for [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) to protect rewarding government aids.
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EPA [representative Jeffrey](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Landis informed Reuters that the agency has actually released audits over the previous year, but [decreased](https://www.pinterest.com.au/missionnewenergy/) to determine the companies targeted because the examinations are ongoing.
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The production of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) from sustainable active ingredients, like [utilized cooking](https://www.bloomberg.com/profile/company/MNELF:US) oil, can earn refiners a multitude of state and federal environmental and environment aids, consisting of tradable credits under a program administered by the EPA called the Renewable Fuel Standard. But fears have actually been installing that some products labeled as utilized cooking oil are in fact less [expensive](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) and less [sustainable virgin](https://www.businessnews.com.au/Company/Mission-NewEnergy) palm oil, a product that is associated with logging and other .
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The problem came into focus following a surge in used cooking oil exports from Asia in recent years that experts have actually said involves unrealistically high volumes [relative](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) to the amount of [cooking oil](https://www.businessnews.com.au/Company/Mission-NewEnergy) [utilized](https://www.bloomberg.com/profile/company/MNELF:US) and [recuperated](https://pitchbook.com/profiles/company/51278-86) in the region. The European Union is also examining feedstocks over the fraud concerns.
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The EPA audits began after the company updated domestic supply-chain accounting requirements in July 2023 for sustainable fuel [producers](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) seeking to earn credits under the RFS, he said.
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"EPA has carried out audits of sustainable fuel producers because July 2023 that includes, amongst other things, an assessment of the locations that utilized cooking oil utilized in sustainable fuel production was gathered," he stated. "These investigations, nevertheless, are ongoing and we are not able to discuss continuous enforcement investigations."
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U.S. [senators](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) from farm states have called for more oversight of [biofuel](https://stocktwits.com/symbol/MNEL) feedstocks, stating federal agencies need to be as strenuous in validating imports as they are auditing domestic supply chains.
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"The Biden administration has actually created vigorous standards to verify, not just trust, American manufacturers, and it is vital that the exact same scrutiny is used to imported feedstocks," 6 U.S. senators, led by Roger Marshall and [Sherrod](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) 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](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) to omit imported feedstocks like UCO from an additional clean fuel tax [credit program](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) passed in the [Inflation Reduction](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)
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