From fb6e4787d871684f8703a3c36d7666bf38df1e74 Mon Sep 17 00:00:00 2001 From: Jerrell Cunneen Date: Sat, 11 Jan 2025 04:19:47 +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..4facf15 --- /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 [introduced examinations](https://forest500.org/rankings/companies/mission-newenergy-limited) into the [supply chains](https://www.crunchbase.com/organization/mission-newenergy) of at least two eco-friendly fuel manufacturers [amid industry](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) concerns that some might be utilizing fraudulent feedstocks for [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) to secure rewarding government aids.
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EPA representative Jeffrey Landis informed Reuters that the firm has actually introduced audits over the past year, but decreased to identify the business targeted because the investigations are continuous.
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The production of [biodiesel](https://www.pinterest.com.au/missionnewenergy/) from sustainable ingredients, like utilized cooking oil, can earn refiners a multitude of state and [federal ecological](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) and [climate](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) subsidies, including tradable [credits](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) under a program administered by the EPA called the Renewable Fuel Standard. But fears have been [mounting](https://www.bloomberg.com/profile/company/MNELF:US) that some materials identified as used cooking oil are really cheaper and less [sustainable virgin](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) palm oil, an item that is associated with logging and other [ecological damage](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html).
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The problem entered into focus following a surge in utilized cooking [oil exports](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) from Asia in the last few years that analysts have actually said includes [unrealistically](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) high volumes relative to the quantity of cooking oil used and recuperated in the region. The European Union is likewise investigating feedstocks over the fraud issues.
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The EPA audits started after the [firm updated](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) domestic supply-chain accounting requirements in July 2023 for eco-friendly fuel producers seeking to [earn credits](https://www.bloomberg.com/profile/company/MNELF:US) under the RFS, he said.
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"EPA has performed audits of eco-friendly fuel producers since July 2023 that includes, to name a few things, an assessment of the areas that used cooking oil used in sustainable fuel production was gathered," he said. "These examinations, nevertheless, are continuous and we are not able to discuss continuous enforcement investigations."
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U.S. senators from farm states have actually called for more oversight of [biofuel](https://www.crunchbase.com/organization/mission-newenergy) feedstocks, saying federal firms must be as rigorous in verifying imports as they are auditing domestic supply chains.
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"The Biden administration has created energetic requirements to confirm, not just trust, American producers, and it is imperative that the very same examination is used to imported feedstocks," six U.S. senators, led by Roger Marshall and Sherrod Brown, wrote in a June 20 letter to federal companies.
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Another letter from 15 senators to the [Treasury Department](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) on July 30 prompted the administration to exclude imported feedstocks like UCO from an [extra clean](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) fuel tax credit program passed in the Inflation Reduction Act. ( by [Leah Douglas](https://stocktwits.com/symbol/MNEL) in Washington Editing by [Richard Valdmanis](https://www.google.com/search?kgmid=/m/0cqd_rb) and [Matthew](https://www.bloomberg.com/profile/company/MNELF:US) Lewis)
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