commit ea2be3b4d2346dacbdfe65da26bb7e2adb892b09 Author: archieparker39 Date: Sat Jan 11 12:37:19 2025 +0100 Add US EPA Says it is Auditing Biofuel Producers' used Cooking Oil Supply 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..96d6acc --- /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. [Environmental Protection](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Agency has actually introduced examinations into the supply chains of a minimum of two sustainable fuel producers amidst market issues that some might be using deceptive feedstocks for to secure financially rewarding federal government aids.
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EPA [representative Jeffrey](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [Landis informed](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) [Reuters](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) that the agency has [released audits](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) over the previous year, but decreased to determine the business targeted due to the fact that the [investigations](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) are ongoing.
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The production of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) from sustainable ingredients, like used cooking oil, can earn refiners a variety of state and [federal environmental](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) and environment subsidies, consisting of tradable credits under a program administered by the EPA called the [Renewable Fuel](https://pitchbook.com/profiles/company/51278-86) Standard. But worries have been installing that some [materials labeled](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) as used cooking oil are actually more affordable and less [sustainable virgin](https://www.pinterest.com.au/missionnewenergy/) palm oil, a product that is associated with deforestation and other ecological damage.
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The concern came into focus following a surge in used cooking oil exports from Asia over the last few years that experts have stated involves [unrealistically](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) high volumes relative to the amount of cooking [oil utilized](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and recovered in the area. The European Union is likewise investigating feedstocks over the [fraud issues](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).
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The EPA audits began after the agency updated domestic supply-chain accounting requirements in July 2023 for sustainable fuel producers seeking to make credits under the RFS, he said.
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"EPA has actually performed audits of sustainable fuel manufacturers given that July 2023 which includes, amongst other things, an assessment of the places that utilized cooking oil utilized in eco-friendly fuel production was collected," he stated. "These investigations, however, are ongoing and we are unable to talk about continuous enforcement examinations."
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U.S. senators from farm states have required more [oversight](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of [biofuel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) feedstocks, stating federal firms must be as rigorous in verifying imports as they are auditing domestic supply chains.
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"The Biden administration has developed vigorous standards to validate, not just trust, American manufacturers, and it is crucial that the exact 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 agencies](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).
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Another letter from 15 senators to the Treasury Department on July 30 prompted the administration to omit imported [feedstocks](https://stocktwits.com/symbol/MNEL) like UCO from an additional clean [fuel tax](https://www.businessnews.com.au/Company/Mission-NewEnergy) [credit program](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) passed in the Inflation Reduction Act. (Reporting by Leah Douglas in [Washington Editing](https://pitchbook.com/profiles/company/51278-86) by Richard Valdmanis and Matthew Lewis)
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