From b5d45cc9a3ff1c365456bf6091b4486f0d06aaa2 Mon Sep 17 00:00:00 2001 From: Eli Imhoff Date: Sat, 18 Jan 2025 22:16:43 +0800 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..2f333ee --- /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 actually [introduced investigations](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) into the [supply chains](https://forest500.org/rankings/companies/mission-newenergy-limited) of at least two [eco-friendly fuel](https://www.crunchbase.com/organization/mission-newenergy) manufacturers amidst industry issues that some might be using [deceptive feedstocks](https://www.bloomberg.com/profile/company/MNELF:US) for [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) to secure rewarding federal government subsidies.
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[EPA representative](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Jeffrey Landis informed Reuters that the firm has actually introduced audits over the previous year, but declined to determine the business targeted because the examinations are ongoing.
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The production of [biodiesel](https://www.pinterest.com.au/missionnewenergy/) from [sustainable active](https://www.bloomberg.com/profile/company/MNELF:US) ingredients, like used cooking oil, can earn refiners a [variety](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) of state and [federal ecological](https://stocktwits.com/symbol/MNEL) and environment aids, including tradable credits under a [program administered](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) by the EPA called the Renewable Fuel Standard. But worries have actually been installing that some products labeled as used cooking oil are actually more [affordable](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and less sustainable virgin palm oil, a product that is associated with logging and other environmental damage.
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The issue entered focus following a surge in [utilized cooking](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) oil exports from Asia in the last few years that analysts have stated includes unrealistically high volumes relative to the quantity of cooking oil used and [recovered](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) in the region. The European Union is likewise [examining feedstocks](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) over the scams issues.
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The EPA audits started after the agency upgraded domestic supply-chain accounting requirements in July 2023 for [renewable fuel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) manufacturers seeking to earn credits under the RFS, he said.
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"EPA has carried out audits of eco-friendly fuel producers since July 2023 that includes, to name a few things, an evaluation of the areas that used cooking oil used in renewable fuel production was gathered," he stated. "These examinations, nevertheless, are continuous and we are not able to discuss ongoing enforcement examinations."
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U.S. senators from farm states have actually [required](https://www.bloomberg.com/profile/company/MNELF:US) more oversight of [biofuel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) feedstocks, stating federal agencies need to be as extensive in confirming imports as they are auditing domestic [supply chains](https://www.investing.com/equities/mission-newenergy-ltd-company-profile).
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"The Biden administration has actually developed energetic requirements to confirm, not simply trust, American producers, and it is imperative that the same scrutiny is used to imported feedstocks," 6 U.S. senators, led by Roger Marshall and [Sherrod](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Brown, composed in a June 20 letter to federal companies.
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Another letter from 15 senators to the Treasury Department on July 30 prompted the administration to omit imported feedstocks like UCO from an fuel tax [credit program](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)
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