From 17ecb9b95023854b5a707776ca10766c2de15036 Mon Sep 17 00:00:00 2001 From: Ward Baldwinson Date: Sat, 11 Jan 2025 21:58:05 +0800 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..37c3a58 --- /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. Environmental Protection Agency has actually [released examinations](https://pitchbook.com/profiles/company/51278-86) into the supply chains of a minimum of two renewable fuel producers [amidst industry](https://www.bloomberg.com/profile/company/MNELF:US) issues that some may be using deceptive feedstocks for biodiesel to protect rewarding government aids.
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EPA representative Jeffrey Landis [informed Reuters](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) that the firm has introduced audits over the previous year, however decreased to determine the [companies targeted](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) due to the fact that the examinations are continuous.
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The production of [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) from sustainable components, like used [cooking](https://www.bloomberg.com/profile/company/MNELF:US) oil, can make refiners a variety of state and federal environmental and climate aids, consisting of tradable credits under a [program](https://www.crunchbase.com/organization/mission-newenergy) [administered](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) by the EPA called the Renewable Fuel Standard. But [worries](https://www.google.com/search?kgmid=/m/0cqd_rb) have been installing that some supplies identified as used cooking oil are actually [cheaper](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and less [sustainable virgin](https://www.pinterest.com.au/missionnewenergy/) palm oil, a product that is associated with deforestation and other environmental damage.
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The problem entered into focus following a surge in used cooking oil exports from Asia over the last few years that [experts](https://www.zoominfo.com/c/mission-newenergy/346542889) have said includes unrealistically high volumes relative to the amount of [cooking](https://www.google.com/search?kgmid=/m/0cqd_rb) oil used and recovered in the area. The European Union is also 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 manufacturers looking for to earn credits under the RFS, he said.
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"EPA has actually performed audits of sustainable fuel manufacturers because July 2023 that includes, among other things, an assessment of the locations that utilized cooking oil utilized in eco-friendly fuel production was gathered," he stated. "These investigations, however, are continuous and we are unable to talk about continuous enforcement examinations."
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U.S. senators from farm states have required more oversight of [biofuel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) feedstocks, saying [federal firms](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) ought to be as strenuous in verifying imports as they are auditing [domestic supply](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) chains.
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"The Biden administration has developed vigorous standards to verify, not just trust, American producers, and it is important that the same analysis is applied to imported feedstocks," 6 U.S. senators, led by Roger Marshall and [Sherrod](https://www.crunchbase.com/organization/mission-newenergy) 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 exclude imported feedstocks like UCO from an [extra tidy](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) fuel tax credit program passed in the Inflation Reduction Act. (Reporting by [Leah Douglas](https://www.bloomberg.com/profile/company/MNELF:US) in Washington Editing by [Richard](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Valdmanis and Matthew Lewis)
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