commit 987a0d37eaab912170f4ddef17b667630eb671cd Author: darciburkholde Date: Sat Jan 11 23:23:36 2025 +0100 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..4444b73 --- /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. [Environmental Protection](https://forest500.org/rankings/companies/mission-newenergy-limited) Agency has actually [launched investigations](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) into the supply chains of a minimum of two renewable fuel producers amidst industry concerns that some might be using deceitful feedstocks for [biodiesel](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) to secure lucrative [federal government](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [subsidies](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).
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[EPA spokesperson](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) [Jeffrey](https://www.businessnews.com.au/Company/Mission-NewEnergy) Landis informed [Reuters](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) that the firm has actually introduced audits over the previous year, however decreased to identify the companies targeted because the examinations are ongoing.
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The production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) from sustainable active ingredients, like utilized cooking oil, can earn refiners a multitude of state and federal ecological and climate subsidies, consisting of tradable credits under a program by the EPA called the Renewable Fuel Standard. But worries have actually been mounting that some [products identified](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) as used cooking oil are actually more affordable and less sustainable virgin palm oil, an item that is connected with [deforestation](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) and other environmental damage.
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The issue entered focus following a surge in used [cooking oil](https://stocktwits.com/symbol/MNEL) [exports](https://forest500.org/rankings/companies/mission-newenergy-limited) from Asia in the last few years that experts have actually said involves unrealistically high volumes [relative](https://pitchbook.com/profiles/company/51278-86) to the quantity of cooking oil used and recovered in the region. The European Union is likewise [investigating feedstocks](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) over the [fraud concerns](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html).
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The EPA audits started after the company upgraded domestic supply-chain accounting requirements in July 2023 for sustainable [fuel manufacturers](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) looking for to earn credits under the RFS, he said.
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"EPA has carried out audits of renewable fuel manufacturers because July 2023 that includes, amongst other things, an evaluation of the locations that utilized cooking oil used in renewable fuel production was collected," he stated. "These examinations, nevertheless, are continuous and we are not able to discuss continuous enforcement examinations."
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U.S. senators from farm states have actually required more oversight of [biofuel](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) feedstocks, stating federal agencies need to be as rigorous in validating imports as they are auditing domestic supply chains.
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"The Biden administration has actually developed vigorous requirements to verify, not just trust, American manufacturers, and it is essential that the same analysis is applied to imported feedstocks," 6 U.S. senators, led by [Roger Marshall](https://www.pinterest.com.au/missionnewenergy/) and [Sherrod](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Brown, composed in a June 20 letter to [federal companies](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).
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Another letter from 15 senators to the Treasury Department on July 30 urged the administration to exclude imported feedstocks like UCO from an additional tidy 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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