commit 08665ba2e798d3f58dbe7eb20f0430a86f970358 Author: bernardlatrobe Date: Sat Jan 18 05:39:50 2025 +0300 Add US EPA Says it is Auditing Biofuel Producers' Secondhand Cooking Oil Supply diff --git a/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md new file mode 100644 index 0000000..62e89b4 --- /dev/null +++ b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-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 released investigations into the [supply chains](https://www.zoominfo.com/c/mission-newenergy/346542889) of at least two eco-friendly fuel producers in the middle of market issues that some may be using deceptive feedstocks for [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) to protect lucrative [government](https://www.bloomberg.com/profile/company/MNELF:US) aids.
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[EPA spokesperson](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Jeffrey Landis told [Reuters](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) that the firm has introduced audits over the previous year, however declined to determine the business targeted due to the fact that the examinations are [continuous](https://www.pinterest.com.au/missionnewenergy/).
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The production of [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) from ingredients, like used cooking oil, can make refiners a variety of state and federal ecological and environment subsidies, [including tradable](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [credits](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) under a [program administered](https://stocktwits.com/symbol/MNEL) by the EPA called the Renewable Fuel [Standard](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html). But [worries](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) have actually been installing that some products identified as utilized cooking oil are actually more [affordable](https://www.businessnews.com.au/Company/Mission-NewEnergy) and less [sustainable virgin](https://forest500.org/rankings/companies/mission-newenergy-limited) palm oil, a product that is associated with deforestation and other [ecological damage](https://pitchbook.com/profiles/company/51278-86).
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The problem came into focus following a surge in utilized cooking oil exports from Asia over the last few years that experts have said includes unrealistically high volumes relative to the amount of [cooking oil](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) utilized and recovered in the region. The European Union is likewise investigating feedstocks over the scams issues.
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The EPA audits began after the agency upgraded domestic supply-chain accounting requirements in July 2023 for sustainable fuel producers seeking to make credits under the RFS, he stated.
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"EPA has performed audits of eco-friendly fuel producers because July 2023 that includes, to name a few things, an assessment of the areas that used cooking oil utilized in renewable fuel production was gathered," he stated. "These examinations, however, are ongoing and we are unable to discuss ongoing enforcement examinations."
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U.S. senators from farm states have actually called for more oversight of [biofuel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) feedstocks, saying federal firms must be as strenuous in validating imports as they are auditing domestic supply chains.
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"The Biden administration has created energetic requirements to verify, not simply trust, American producers, and it is imperative that the exact same analysis is applied to imported feedstocks," 6 U.S. senators, led by Roger Marshall and [Sherrod](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Brown, composed in a June 20 letter to [federal firms](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html).
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Another letter from 15 senators to the Treasury Department on July 30 [prompted](https://forest500.org/rankings/companies/mission-newenergy-limited) the administration to leave out imported feedstocks like UCO from an additional clean fuel tax credit [program](https://www.crunchbase.com/organization/mission-newenergy) passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)
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