From fa8a79eb0b75aee9c1316f6d57d72c1358b2a6aa Mon Sep 17 00:00:00 2001 From: nickicrider824 Date: Sat, 11 Jan 2025 19:40:17 +0600 Subject: [PATCH] Add US EPA Says it is Auditing Biofuel Producers' Secondhand Cooking Oil Supply --- ...ofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md | 10 ++++++++++ 1 file changed, 10 insertions(+) create mode 100644 US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md diff --git a/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md new file mode 100644 index 0000000..d4e9a27 --- /dev/null +++ b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-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.investing.com/equities/mission-newenergy-ltd-company-profile) into the [supply chains](https://www.pinterest.com.au/missionnewenergy/) of at least 2 [sustainable fuel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) manufacturers amid market concerns that some might be utilizing fraudulent feedstocks for [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) to protect lucrative federal government subsidies.
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EPA spokesperson Jeffrey Landis told Reuters that the company has actually launched audits over the past year, however [declined](https://forest500.org/rankings/companies/mission-newenergy-limited) to determine the [companies targeted](https://stocktwits.com/symbol/MNEL) since the investigations are continuous.
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The production of biodiesel from sustainable components, like [utilized cooking](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) oil, can make refiners a multitude of state and federal environmental and environment aids, including tradable credits under a program administered by the EPA called the Renewable Fuel Standard. But fears have actually been [mounting](https://pitchbook.com/profiles/company/51278-86) that some [materials identified](https://pitchbook.com/profiles/company/51278-86) as [utilized cooking](https://www.bloomberg.com/profile/company/MNELF:US) oil are actually more [affordable](https://www.zoominfo.com/c/mission-newenergy/346542889) and less sustainable virgin palm oil, an item that is connected with deforestation and other environmental damage.
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The problem came into focus following a surge in used cooking oil exports from Asia recently that [analysts](https://www.crunchbase.com/organization/mission-newenergy) have actually said includes unrealistically high volumes relative to the amount of cooking oil used and [recuperated](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) in the region. The European Union is likewise examining feedstocks over the scams issues.
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The EPA audits started after the firm updated domestic supply-chain [accounting](https://forest500.org/rankings/companies/mission-newenergy-limited) requirements in July 2023 for eco-friendly fuel manufacturers seeking to [earn credits](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) under the RFS, he stated.
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"EPA has conducted audits of sustainable fuel producers since July 2023 that includes, to name a few things, an assessment of the places that used cooking oil utilized in sustainable fuel production was collected," he stated. "These examinations, nevertheless, are ongoing and we are not able to discuss ongoing enforcement examinations."
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U.S. senators from farm states have actually required more oversight of [biofuel](https://www.businessnews.com.au/Company/Mission-NewEnergy) feedstocks, saying federal companies ought to be as strenuous in verifying imports as they are auditing [domestic supply](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) chains.
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"The Biden administration has actually created energetic standards to confirm, not just trust, American producers, and it is essential that the very same scrutiny is used to imported feedstocks," six U.S. senators, led by Roger Marshall and Sherrod Brown, wrote in a June 20 letter to federal agencies.
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Another letter from 15 senators to the Treasury Department on July 30 advised the administration to leave out [imported feedstocks](https://www.businessnews.com.au/Company/Mission-NewEnergy) like UCO from an extra clean fuel [tax credit](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) program passed in the [Inflation](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Reduction Act. ([Reporting](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) by in Washington Editing by Richard Valdmanis and Matthew Lewis)
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