commit a05e31e5202a456dfa326ac4a0355ab255946593 Author: buddyj62761698 Date: Sat Jan 18 07:07:24 2025 +0800 Add US EPA Says it is Auditing Biofuel Producers' used Cooking Oil Supply 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..eb2bcf6 --- /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. [Environmental Protection](https://www.businessnews.com.au/Company/Mission-NewEnergy) Agency has [launched examinations](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 of at least two eco-friendly fuel producers in the middle of market issues that some may be using fraudulent feedstocks for [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) to secure financially rewarding government subsidies.
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EPA spokesperson [Jeffrey](https://www.bloomberg.com/profile/company/MNELF:US) Landis told Reuters that the firm has actually released audits over the past year, but declined to identify the companies targeted due to the fact that the examinations are continuous.
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The production of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) from sustainable components, like used cooking oil, can make refiners a slew of state and federal ecological and environment subsidies, consisting of [tradable credits](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) under a [program](https://forest500.org/rankings/companies/mission-newenergy-limited) [administered](https://www.businessnews.com.au/Company/Mission-NewEnergy) by the EPA called the Renewable Fuel Standard. But fears have been mounting that some materials identified as used oil are actually more [affordable](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) and less [sustainable virgin](https://www.pinterest.com.au/missionnewenergy/) palm oil, an item that is connected with logging and other environmental damage.
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The problem entered into focus following a surge in used cooking oil exports from Asia recently that analysts have [stated involves](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) unrealistically high volumes relative to the quantity of [cooking oil](https://www.google.com/search?kgmid=/m/0cqd_rb) utilized and recuperated in the region. The European Union is also examining feedstocks over the scams issues.
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The EPA audits started after the company [upgraded domestic](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) supply-chain accounting requirements in July 2023 for renewable fuel manufacturers looking for to make credits under the RFS, he stated.
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"EPA has actually performed audits of eco-friendly fuel producers since July 2023 that includes, to name a few things, an examination of the locations that used cooking oil utilized in sustainable fuel production was collected," he stated. "These investigations, nevertheless, are continuous and we are unable to go over ongoing enforcement investigations."
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U.S. senators from farm states have actually required more oversight of [biofuel](https://www.google.com/search?kgmid=/m/0cqd_rb) feedstocks, [stating federal](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) companies need to be as rigorous in confirming imports as they are auditing [domestic supply](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) chains.
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"The Biden administration has actually developed vigorous requirements to confirm, not simply trust, American manufacturers, and it is important that the same scrutiny is applied to imported feedstocks," 6 U.S. senators, led by [Roger Marshall](https://forest500.org/rankings/companies/mission-newenergy-limited) and Sherrod Brown, composed in a June 20 letter to [federal agencies](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).
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Another letter from 15 senators to the Treasury Department on July 30 prompted the administration to exclude 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](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Reduction Act. (Reporting by [Leah Douglas](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) in Washington Editing by Richard Valdmanis and Matthew Lewis)
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