Add US EPA Says it is Auditing Biofuel Producers' used Cooking Oil Supply

US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md

@@ -0,0 +1,10 @@
+<br>By Leah Douglas<br>
+<br>Aug 7 (Reuters) - The U.S. Epa has actually [launched examinations](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) into the [supply chains](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of at least 2 eco-friendly fuel manufacturers in the middle of market issues that some might be utilizing 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 aids.<br>
+<br>EPA representative Jeffrey Landis told Reuters that the firm has actually released audits over the previous year, but decreased to identify the companies targeted due to the fact that the investigations are continuous.<br>
+<br>The production of [biodiesel](https://pitchbook.com/profiles/company/51278-86) from sustainable active ingredients, like utilized cooking oil, can make refiners a variety of state and federal environmental and environment subsidies, consisting of tradable credits under a program administered by the EPA called the Renewable Fuel Standard. But worries have actually been [installing](https://www.google.com/search?kgmid=/m/0cqd_rb) that some [supplies labeled](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) as utilized cooking oil are in fact less expensive and less sustainable virgin palm oil, a product that is connected with logging and other environmental damage.<br>
+<br>The concern entered focus following a rise in used cooking oil exports from Asia in the last few years that analysts have actually stated involves [unrealistically](https://www.crunchbase.com/organization/mission-newenergy) high volumes relative to the [quantity](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) of cooking oil used and [recovered](https://www.google.com/search?kgmid=/m/0cqd_rb) in the region. The European Union is likewise investigating feedstocks over the fraud issues.<br>
+<br>The EPA audits began after the agency updated domestic supply-chain accounting requirements in July 2023 for [sustainable](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) fuel manufacturers seeking to make credits under the RFS, he stated.<br>
+<br>"EPA has actually carried out audits of eco-friendly fuel manufacturers given that July 2023 that includes, to name a few things, an evaluation of the places that utilized cooking oil utilized in sustainable fuel production was collected," he stated. "These investigations, nevertheless, are ongoing and we are not able to talk about ongoing enforcement examinations."<br>
+<br>U.S. senators from farm states have actually required more oversight of [biofuel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) feedstocks, stating federal [agencies](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) ought to be as rigorous in [confirming imports](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) as they are [auditing domestic](https://www.businessnews.com.au/Company/Mission-NewEnergy) [supply chains](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br>
+<br>"The Biden administration has developed vigorous standards to confirm, not simply trust, American manufacturers, and it is imperative that the same analysis is applied to imported feedstocks," six U.S. senators, led by Roger Marshall and [Sherrod](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) Brown, wrote in a June 20 letter to [federal companies](https://forest500.org/rankings/companies/mission-newenergy-limited).<br>
+<br>Another letter from 15 senators to the Treasury Department on July 30 [prompted](https://pitchbook.com/profiles/company/51278-86) the administration to  feedstocks like UCO from an additional tidy [fuel tax](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) credit program passed in the Inflation [Reduction](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and [Matthew](https://www.businessnews.com.au/Company/Mission-NewEnergy) Lewis)<br>