From dcc18d722525d3f37b96d3b6d27f122a0af9baa9 Mon Sep 17 00:00:00 2001 From: luannoquendo40 Date: Sat, 11 Jan 2025 15:16:24 +0100 Subject: [PATCH] Add US EPA Says it is Auditing Biofuel Producers' Pre-owned Cooking Oil Supply --- ...fuel 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..8fab69b --- /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 [launched examinations](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) into the supply chains of a minimum of two renewable fuel producers amid industry concerns that some may be utilizing [deceptive feedstocks](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) for to secure financially rewarding government subsidies.
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EPA representative Jeffrey Landis told Reuters that the agency has launched audits over the past year, but declined to recognize the business targeted due to the fact that the [examinations](https://www.businessnews.com.au/Company/Mission-NewEnergy) are continuous.
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The [production](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) from sustainable components, like [utilized cooking](https://pitchbook.com/profiles/company/51278-86) oil, can [earn refiners](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) a variety of state and [federal ecological](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and climate subsidies, consisting of tradable credits under a program administered by the EPA called the [Renewable Fuel](https://www.pinterest.com.au/missionnewenergy/) Standard. But worries have actually been [mounting](https://forest500.org/rankings/companies/mission-newenergy-limited) that some supplies labeled as used [cooking](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) oil are really more affordable and less sustainable virgin palm oil, an item that is related to logging and other environmental damage.
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The problem came into focus following a rise in used cooking oil exports from Asia in current years that experts have actually said involves unrealistically high [volumes relative](https://www.crunchbase.com/organization/mission-newenergy) to the amount of cooking oil utilized and recuperated in the region. The [European Union](https://www.bloomberg.com/profile/company/MNELF:US) is likewise examining feedstocks over the fraud issues.
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The EPA audits started after the company updated domestic supply-chain accounting requirements in July 2023 for sustainable fuel producers seeking to make [credits](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) under the RFS, he said.
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"EPA has actually carried out audits of eco-friendly fuel producers given that July 2023 that includes, to name a few things, an examination of the areas that utilized cooking oil used in eco-friendly fuel production was collected," he stated. "These investigations, however, are ongoing and we are unable to discuss continuous enforcement examinations."
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U.S. senators from farm states have actually called for more oversight of [biofuel](https://stocktwits.com/symbol/MNEL) feedstocks, [stating federal](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) firms must be as extensive in verifying imports as they are [auditing](https://www.crunchbase.com/organization/mission-newenergy) [domestic supply](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) chains.
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"The Biden administration has developed energetic standards to verify, not simply trust, American producers, and it is important that the very same examination is used to imported feedstocks," six U.S. senators, led by Roger Marshall and Sherrod Brown, composed in a June 20 letter to federal companies.
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Another letter from 15 senators to the Treasury Department on July 30 urged the administration to leave out imported feedstocks like UCO from an [extra tidy](https://www.businessnews.com.au/Company/Mission-NewEnergy) fuel [tax credit](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) program passed in the Inflation Reduction Act. (Reporting by [Leah Douglas](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) in Washington Editing by Richard Valdmanis and Matthew Lewis)
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