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Add US EPA Says it is Auditing Biofuel Producers' used Cooking Oil Supply

Laverne Alcala 2025-01-13 02:18:44 +08:00
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US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md Normal file

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<br>By Leah Douglas<br>
<br>Aug 7 (Reuters) - The U.S. Epa has actually [introduced examinations](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) into the supply chains of at least 2 renewable fuel manufacturers amid market concerns that some might be using deceitful feedstocks for [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) to secure financially rewarding federal government aids.<br>
<br>EPA representative [Jeffrey](https://www.pinterest.com.au/missionnewenergy/) Landis told Reuters that the agency has actually launched audits over the past year, but decreased to identify the business targeted because the investigations are continuous.<br>
<br>The production of biodiesel from sustainable components, like used [cooking](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) oil, can make refiners a [multitude](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) of state and federal ecological and environment subsidies, including tradable credits under a program administered by the EPA called the [Renewable Fuel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Standard. But fears have actually been mounting that some materials identified as [utilized cooking](https://www.crunchbase.com/organization/mission-newenergy) oil are in fact cheaper and less sustainable virgin palm oil, a [product](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) that is connected with [logging](https://www.zoominfo.com/c/mission-newenergy/346542889) and other [environmental damage](https://www.google.com/search?kgmid=/m/0cqd_rb).<br>
<br>The issue came into focus following a surge in utilized cooking oil exports from Asia in the last few years that analysts have said includes unrealistically high volumes relative to the amount of cooking oil used and [recuperated](https://www.zoominfo.com/c/mission-newenergy/346542889) in the area. The European Union is likewise investigating feedstocks over the fraud concerns.<br>
<br>The EPA audits began after the company supply-chain accounting requirements in July 2023 for eco-friendly fuel [manufacturers](https://stocktwits.com/symbol/MNEL) looking for to [earn credits](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) under the RFS, he said.<br>
<br>"EPA has actually conducted audits of eco-friendly fuel manufacturers because July 2023 that includes, to name a few things, an assessment of the areas that used cooking oil used in renewable fuel production was collected," he said. "These investigations, nevertheless, are continuous and we are unable to discuss continuous enforcement examinations."<br>
<br>U.S. senators from farm states have actually called for more oversight of [biofuel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) feedstocks, saying [federal agencies](https://www.businessnews.com.au/Company/Mission-NewEnergy) need to be as rigorous in confirming imports as they are auditing [domestic supply](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) chains.<br>
<br>"The Biden administration has actually produced vigorous requirements to confirm, not just trust, American producers, and it is crucial that the same analysis 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.<br>
<br>Another letter from 15 senators to the Treasury Department on July 30 [advised](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) the administration to leave out [imported feedstocks](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) like UCO from an extra clean fuel tax credit program passed in the Inflation Reduction Act. ([Reporting](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) by [Leah Douglas](https://www.crunchbase.com/organization/mission-newenergy) in Washington Editing by Richard [Valdmanis](https://www.google.com/search?kgmid=/m/0cqd_rb) and Matthew Lewis)<br>