From d48613d9794fd8a5d4fb18d66f1050e49ee5bde8 Mon Sep 17 00:00:00 2001 From: Karla Overton Date: Sun, 12 Jan 2025 06:16:32 +0000 Subject: [PATCH] Add US EPA Says it is Auditing Biofuel Producers' Pre-owned Cooking Oil Supply --- ...fuel Producers%27 Pre-owned Cooking Oil Supply.-.md | 10 ++++++++++ 1 file changed, 10 insertions(+) create mode 100644 US EPA Says it is Auditing Biofuel Producers%27 Pre-owned Cooking Oil Supply.-.md 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..920cb47 --- /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 Agency has actually [launched examinations](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) into the supply chains of a minimum of 2 sustainable fuel producers amid market concerns that some might be using fraudulent feedstocks for [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) to protect lucrative federal government subsidies.
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EPA [spokesperson Jeffrey](https://www.google.com/search?kgmid=/m/0cqd_rb) Landis told Reuters that the company has launched audits over the previous year, but decreased to determine the [companies targeted](https://stocktwits.com/symbol/MNEL) because the [examinations](https://www.zoominfo.com/c/mission-newenergy/346542889) are continuous.
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The production of [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) from sustainable ingredients, like utilized cooking oil, can make refiners a slew of state and [federal ecological](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and climate subsidies, consisting of tradable credits under a program administered by the EPA called the Renewable Fuel Standard. But fears have been installing that some materials labeled as used [cooking](https://www.businessnews.com.au/Company/Mission-NewEnergy) oil are really less expensive and less sustainable virgin palm oil, a product that is related to deforestation and other environmental damage.
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The problem entered focus following a rise in utilized cooking [oil exports](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) from Asia in the last few years that analysts have stated involves unrealistically high volumes relative to the amount of cooking oil used and recuperated in the area. The European Union is likewise investigating feedstocks over the [fraud concerns](https://www.zoominfo.com/c/mission-newenergy/346542889).
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The EPA audits began after the [company upgraded](https://www.crunchbase.com/organization/mission-newenergy) [domestic supply-chain](https://www.pinterest.com.au/missionnewenergy/) [accounting](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) requirements in July 2023 for manufacturers looking for to earn credits under the RFS, he stated.
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"EPA has actually performed audits of renewable fuel manufacturers because July 2023 that includes, among other things, an evaluation of the locations that utilized cooking oil used in renewable fuel production was gathered," he stated. "These examinations, however, are ongoing and we are unable to talk about continuous enforcement investigations."
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U.S. senators from farm states have called for more [oversight](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) of [biofuel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) feedstocks, saying [federal agencies](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) ought to be as rigorous in confirming imports as they are [auditing](https://www.businessnews.com.au/Company/Mission-NewEnergy) [domestic supply](https://www.zoominfo.com/c/mission-newenergy/346542889) chains.
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"The Biden administration has actually produced vigorous standards to verify, not just trust, American manufacturers, and it is imperative that the exact same analysis is used to imported feedstocks," six U.S. senators, led by Roger Marshall and Sherrod Brown, wrote in a June 20 letter to [federal firms](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 urged the [administration](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) to leave out imported feedstocks like UCO from an extra tidy fuel tax credit program passed in the Inflation Reduction Act. ([Reporting](https://www.google.com/search?kgmid=/m/0cqd_rb) by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)
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