From 2a51c413ea54ffdeddf95abf88a2b352f080136e Mon Sep 17 00:00:00 2001 From: Mariano Palmore Date: Sat, 11 Jan 2025 23:18:41 +0800 Subject: [PATCH] Add US EPA Says it is Auditing Biofuel Producers' Secondhand Cooking Oil Supply --- ...ofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md | 10 ++++++++++ 1 file changed, 10 insertions(+) create mode 100644 US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md 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..a710df6 --- /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](https://pitchbook.com/profiles/company/51278-86) Agency has actually launched investigations into the supply chains of a minimum of 2 renewable fuel [manufacturers](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) in the middle of market issues that some may be using fraudulent feedstocks for [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) to [secure lucrative](https://www.bloomberg.com/profile/company/MNELF:US) federal government aids.
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[EPA spokesperson](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Jeffrey Landis informed [Reuters](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) that the agency has introduced audits over the past year, but [decreased](https://pitchbook.com/profiles/company/51278-86) to identify the [business targeted](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) since the investigations are continuous.
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The production of [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) from sustainable ingredients, like used cooking oil, can earn refiners a variety of state and federal environmental and environment subsidies, including tradable credits under a program administered by the EPA called the Renewable Fuel Standard. But worries have been installing that some materials labeled as utilized cooking oil are in fact more affordable and less [sustainable virgin](https://www.google.com/search?kgmid=/m/0cqd_rb) palm oil, an item that is associated with logging and other ecological damage.
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The problem came into focus following a surge in [utilized cooking](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) oil exports from Asia in [current](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) years that experts have actually said involves unrealistically high volumes relative to the quantity of cooking oil used and recuperated in the region. The European Union is also [investigating](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) feedstocks over the .
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The EPA audits began after the [agency updated](https://forest500.org/rankings/companies/mission-newenergy-limited) [domestic supply-chain](https://forest500.org/rankings/companies/mission-newenergy-limited) accounting requirements in July 2023 for eco-friendly [fuel producers](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) looking for to earn credits under the RFS, he stated.
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"EPA has actually performed audits of eco-friendly fuel producers because July 2023 that includes, among other things, an examination of the areas that used cooking oil used in renewable fuel production was collected," he stated. "These examinations, nevertheless, are continuous and we are unable to go over continuous enforcement investigations."
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U.S. [senators](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) from farm states have actually required more oversight of [biofuel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) feedstocks, saying federal companies should be as rigorous in verifying imports as they are auditing domestic supply chains.
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"The Biden administration has actually developed energetic requirements to validate, not just trust, American producers, and it is imperative that the very same examination is applied to imported feedstocks," six U.S. senators, led by Roger Marshall and Sherrod Brown, wrote in a June 20 letter to [federal companies](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 advised the administration to omit imported feedstocks like UCO from an extra clean fuel tax credit program passed in the [Inflation](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Reduction Act. (Reporting by [Leah Douglas](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) in Washington Editing by Richard Valdmanis and Matthew Lewis)
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