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..157af16 --- /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.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Agency has [launched investigations](https://pitchbook.com/profiles/company/51278-86) into the [supply chains](https://pitchbook.com/profiles/company/51278-86) of a minimum of two [eco-friendly](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) [fuel producers](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) amid [market issues](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) that some might be [utilizing fraudulent](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) feedstocks for [biodiesel](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) to protect financially rewarding [federal government](https://forest500.org/rankings/companies/mission-newenergy-limited) aids.
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EPA spokesperson Jeffrey [Landis informed](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Reuters that the firm has released audits over the previous year, but decreased to recognize the companies targeted since the investigations are ongoing.
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The production of [biodiesel](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) from sustainable active ingredients, like utilized cooking oil, can earn refiners a variety of state and federal ecological and environment subsidies, consisting of [tradable credits](https://stocktwits.com/symbol/MNEL) under a program administered by the EPA called the Renewable Fuel Standard. But worries have been installing that some materials identified as used cooking oil are in fact more affordable and less sustainable virgin palm oil, an item that is [connected](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) with logging and other [ecological damage](https://forest500.org/rankings/companies/mission-newenergy-limited).
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The concern entered focus following a rise in utilized cooking oil exports from Asia in the last few years that analysts have actually said includes unrealistically high volumes relative to the amount of cooking oil used and [recuperated](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) 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 upgraded domestic supply-chain accounting requirements in July 2023 for [renewable fuel](https://www.google.com/search?kgmid=/m/0cqd_rb) manufacturers seeking to earn credits under the RFS, he stated.
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"EPA has performed audits of eco-friendly fuel manufacturers given that July 2023 that includes, among other things, an examination of the areas that utilized cooking oil utilized in sustainable fuel production was collected," he stated. "These investigations, nevertheless, are ongoing and we are not able to talk about continuous enforcement examinations."
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U.S. senators from farm states have actually required more oversight of [biofuel](https://stocktwits.com/symbol/MNEL) feedstocks, saying federal agencies should be as rigorous in [validating imports](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) as they are auditing [domestic supply](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) chains.
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"The Biden administration has produced energetic requirements to validate, not just trust, American manufacturers, and it is vital that the very same scrutiny is used to imported feedstocks," 6 U.S. senators, led by Roger Marshall and Sherrod Brown, composed in a June 20 letter to federal firms.
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Another letter from 15 senators to the [Treasury Department](https://pitchbook.com/profiles/company/51278-86) on July 30 advised the administration to exclude imported feedstocks like UCO from an [additional clean](https://www.google.com/search?kgmid=/m/0cqd_rb) fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in by Richard Valdmanis and Matthew Lewis)
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