From 6c3de5c94d707c1f7df0cf04a8f8d7c3875f1708 Mon Sep 17 00:00:00 2001 From: Bridgette Hazel Date: Sun, 12 Jan 2025 12:21:57 +0000 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..fa4e365 --- /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.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Agency has actually [launched examinations](https://forest500.org/rankings/companies/mission-newenergy-limited) into the supply chains of at least two [renewable](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) fuel [manufacturers](https://www.pinterest.com.au/missionnewenergy/) in the middle of market issues that some might be using deceptive feedstocks for [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) to secure rewarding government aids.
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EPA spokesperson Jeffrey Landis told Reuters that the agency has actually introduced audits over the previous year, however decreased to identify the companies targeted since the investigations 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 components, like utilized cooking oil, can make refiners a slew of state and federal ecological and climate aids, [consisting](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) of [tradable credits](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) under a program [administered](https://www.bloomberg.com/profile/company/MNELF:US) by the EPA called the Renewable Fuel Standard. But fears have been installing that some supplies identified as [utilized cooking](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) oil are really cheaper and less sustainable virgin palm oil, an item that is associated with deforestation and other ecological damage.
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The issue entered into focus following a rise in utilized cooking [oil exports](https://www.crunchbase.com/organization/mission-newenergy) from Asia over the last few years that [experts](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) have said involves unrealistically high volumes relative to the amount of cooking oil utilized and [recovered](https://pitchbook.com/profiles/company/51278-86) in the region. The European Union is likewise [examining](https://www.pinterest.com.au/missionnewenergy/) feedstocks over the scams concerns.
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The EPA audits started after the firm upgraded domestic supply-chain accounting requirements in July 2023 for renewable fuel to make credits under the RFS, he said.
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"EPA has actually carried out audits of sustainable fuel producers considering that July 2023 which includes, amongst other things, an assessment of the locations that used cooking oil utilized in sustainable fuel production was gathered," he stated. "These examinations, however, are continuous and we are not able to go over ongoing enforcement examinations."
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U.S. senators from farm states have required more oversight of [biofuel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) feedstocks, [stating federal](https://forest500.org/rankings/companies/mission-newenergy-limited) firms ought to be as extensive in [verifying imports](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) as they are auditing [domestic supply](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) chains.
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"The Biden administration has created vigorous standards to validate, not simply trust, American producers, and it is important that the very same analysis is applied to imported feedstocks," 6 U.S. senators, led by Roger Marshall and Sherrod Brown, composed in a June 20 letter to [federal firms](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html).
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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 extra tidy fuel tax credit program passed in the Inflation Reduction Act. ([Reporting](https://www.bloomberg.com/profile/company/MNELF:US) by Leah Douglas in [Washington Editing](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) by Richard Valdmanis and Matthew Lewis)
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