From 414500604ab7a42d811546281458bd41d09c84c8 Mon Sep 17 00:00:00 2001 From: Ramiro Tait Date: Sun, 19 Jan 2025 12:45:09 +0000 Subject: [PATCH] Add US EPA Says it is Auditing Biofuel Producers' used Cooking Oil Supply --- ...ing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md | 10 ++++++++++ 1 file changed, 10 insertions(+) create mode 100644 US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md diff --git a/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md new file mode 100644 index 0000000..ba4daac --- /dev/null +++ b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-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.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) into the [supply chains](https://forest500.org/rankings/companies/mission-newenergy-limited) of a minimum of 2 eco-friendly fuel manufacturers amidst industry concerns that some may be utilizing fraudulent feedstocks for [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) to protect financially rewarding federal government subsidies.
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EPA spokesperson Jeffrey Landis told Reuters that the agency has actually released audits over the previous year, but decreased to identify the [companies targeted](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) since the investigations are ongoing.
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The production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) from sustainable components, like used cooking oil, can make [refiners](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) a slew of state and [federal environmental](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) and environment aids, [including tradable](https://forest500.org/rankings/companies/mission-newenergy-limited) credits under a program administered by the EPA called the Renewable Fuel Standard. But fears have been installing that some materials identified as used cooking oil are actually less expensive and less [sustainable virgin](https://www.bloomberg.com/profile/company/MNELF:US) palm oil, a product that is related to [logging](https://www.crunchbase.com/organization/mission-newenergy) and other environmental damage.
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The [concern](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) came into focus following a rise in oil exports from Asia in current years that analysts have said involves unrealistically high volumes [relative](https://www.crunchbase.com/organization/mission-newenergy) to the amount of cooking oil utilized and recovered in the region. The [European Union](https://www.bloomberg.com/profile/company/MNELF:US) is also [examining feedstocks](https://www.google.com/search?kgmid=/m/0cqd_rb) over the fraud issues.
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The EPA audits started after the firm updated domestic supply-chain accounting requirements in July 2023 for sustainable fuel manufacturers looking for to [earn credits](https://pitchbook.com/profiles/company/51278-86) under the RFS, he stated.
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"EPA has carried out audits of eco-friendly fuel manufacturers because July 2023 which includes, to name a few things, an assessment of the places that used cooking oil used in renewable fuel production was collected," he stated. "These investigations, nevertheless, are continuous and we are unable to talk about 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 companies](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) need to be as rigorous in confirming imports as they are [auditing](https://www.pinterest.com.au/missionnewenergy/) [domestic supply](https://pitchbook.com/profiles/company/51278-86) chains.
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"The Biden administration has actually developed vigorous requirements to verify, not simply trust, American manufacturers, and it is imperative that the exact same analysis is used to imported feedstocks," 6 U.S. senators, led by Roger Marshall and Sherrod Brown, composed in a June 20 letter to [federal companies](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).
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Another letter from 15 senators to the Treasury Department on July 30 urged the administration to leave out [imported feedstocks](https://www.bloomberg.com/profile/company/MNELF:US) like UCO from an extra tidy fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)
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