From f703ed9b5dbdf6838feec0c69c8723809a41fc7f Mon Sep 17 00:00:00 2001 From: anitrapayne594 Date: Mon, 13 Jan 2025 02:09:40 +0800 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..b8acb77 --- /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 [launched investigations](https://www.zoominfo.com/c/mission-newenergy/346542889) into the supply chains of at least 2 sustainable fuel producers amidst market issues that some may be [utilizing fraudulent](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) feedstocks for [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) to protect lucrative federal [government subsidies](https://stocktwits.com/symbol/MNEL).
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EPA representative Jeffrey Landis informed Reuters that the agency has introduced audits over the previous year, but declined to determine the business targeted because the investigations are ongoing.
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The production of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) from sustainable active ingredients, like used [cooking](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) oil, can make refiners a slew of state and federal environmental and environment subsidies, consisting of tradable credits under a [program administered](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) by the EPA called the Renewable Fuel Standard. But worries have actually been mounting that some materials identified as used [cooking](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) oil are in fact more affordable and less [sustainable virgin](https://stocktwits.com/symbol/MNEL) palm oil, an item that is connected with deforestation and other [ecological damage](https://stocktwits.com/symbol/MNEL).
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The problem entered into focus following a rise in utilized cooking oil [exports](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) from Asia in current years that [analysts](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) have said involves unrealistically high volumes relative to the quantity of [cooking oil](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) utilized and [recovered](https://www.google.com/search?kgmid=/m/0cqd_rb) in the region. The European Union is also investigating feedstocks over the fraud issues.
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The EPA audits started after the firm upgraded domestic supply-chain accounting requirements in July 2023 for sustainable fuel producers looking for to [earn credits](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) under the RFS, he said.
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"EPA has actually performed audits of renewable fuel manufacturers given that July 2023 that includes, among other things, an assessment of the areas that utilized cooking oil used in renewable fuel production was collected," he said. "These investigations, nevertheless, are continuous and we are not able to talk about continuous enforcement examinations."
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U.S. senators from farm states have actually called for more [oversight](https://pitchbook.com/profiles/company/51278-86) of [biofuel](https://www.pinterest.com.au/missionnewenergy/) feedstocks, saying federal companies must be as rigorous in validating imports as they are auditing domestic supply chains.
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"The Biden administration has produced energetic standards to verify, not just trust, American manufacturers, and it is important that the same examination is applied to imported feedstocks," six U.S. senators, led by Roger Marshall and Sherrod Brown, wrote in a June 20 letter to federal firms.
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Another letter from 15 senators to the Treasury Department on July 30 prompted the [administration](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) to [exclude imported](https://www.bloomberg.com/profile/company/MNELF:US) like UCO from an [additional tidy](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by [Richard Valdmanis](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) and Matthew Lewis)
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