From 10acc56bf014202c696e329f19e6f478d75b6e7c Mon Sep 17 00:00:00 2001 From: Adelaida Cloutier Date: Sun, 12 Jan 2025 04:01:31 -0500 Subject: [PATCH] Add 'US EPA Says it is Auditing Biofuel Producers' Pre-owned Cooking Oil Supply' --- ...iofuel-Producers%27-Pre-owned-Cooking-Oil-Supply.md | 10 ++++++++++ 1 file changed, 10 insertions(+) create mode 100644 US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Pre-owned-Cooking-Oil-Supply.md diff --git a/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Pre-owned-Cooking-Oil-Supply.md b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Pre-owned-Cooking-Oil-Supply.md new file mode 100644 index 0000000..775f3eb --- /dev/null +++ b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Pre-owned-Cooking-Oil-Supply.md @@ -0,0 +1,10 @@ +
By Leah Douglas
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Aug 7 (Reuters) - The U.S. Epa has actually [released investigations](https://www.google.com/search?kgmid=/m/0cqd_rb) into the supply chains of a minimum of two renewable fuel producers amid market issues that some may be utilizing deceptive feedstocks for [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) to protect rewarding government subsidies.
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Jeffrey Landis told Reuters that the firm has launched audits over the past year, but decreased to [determine](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) the business targeted since the investigations are continuous.
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The production of [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) from sustainable active ingredients, like used [cooking](https://www.businessnews.com.au/Company/Mission-NewEnergy) oil, can earn refiners a multitude of state and federal ecological and environment subsidies, including tradable credits under a program administered by the EPA called the Renewable Fuel Standard. But fears have been mounting that some materials labeled as utilized cooking oil are actually cheaper and less sustainable virgin palm oil, an item that is associated with [logging](https://www.crunchbase.com/organization/mission-newenergy) and other [environmental damage](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price).
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The problem came into focus following a rise in used cooking oil exports from Asia in the last few years that analysts have [stated involves](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) unrealistically high [volumes relative](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) to the amount of cooking oil used and [recovered](https://www.google.com/search?kgmid=/m/0cqd_rb) in the area. The [European](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Union is also investigating [feedstocks](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) over the fraud issues.
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The EPA audits began after the firm upgraded domestic supply-chain accounting requirements in July 2023 for [eco-friendly fuel](https://www.bloomberg.com/profile/company/MNELF:US) manufacturers looking for to make [credits](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) under the RFS, he said.
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"EPA has actually conducted audits of renewable fuel producers considering that July 2023 which consists of, to name a few things, an evaluation of the areas that used cooking oil utilized in eco-friendly fuel production was collected," he stated. "These examinations, nevertheless, are ongoing and we are not able to discuss continuous enforcement investigations."
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U.S. senators from farm states have called for more oversight of [biofuel](https://stocktwits.com/symbol/MNEL) feedstocks, saying federal agencies must be as strenuous in verifying imports as they are auditing domestic supply chains.
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"The Biden administration has produced vigorous standards to verify, not simply trust, American producers, and it is essential that the exact same analysis is applied to imported feedstocks," six U.S. senators, led by Roger Marshall and [Sherrod](https://stocktwits.com/symbol/MNEL) Brown, wrote in a June 20 letter to federal agencies.
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Another letter from 15 senators to the [Treasury Department](https://pitchbook.com/profiles/company/51278-86) on July 30 prompted the [administration](https://www.businessnews.com.au/Company/Mission-NewEnergy) to leave out [imported feedstocks](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) like UCO from an extra clean fuel [tax credit](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by [Richard Valdmanis](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) and Matthew Lewis)
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