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Add US EPA Says it is Auditing Biofuel Producers' Pre-owned Cooking Oil Supply

Hilda Rolston 2025-01-12 17:22:29 +08:00
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US EPA Says it is Auditing Biofuel Producers%27 Pre-owned 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 [released examinations](https://www.crunchbase.com/organization/mission-newenergy) into the [supply chains](https://www.crunchbase.com/organization/mission-newenergy) of at least 2 [eco-friendly fuel](https://www.pinterest.com.au/missionnewenergy/) [producers amidst](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) market issues that some might be using [deceptive feedstocks](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) for [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) to secure financially rewarding government subsidies.<br>
<br>EPA spokesperson Jeffrey Landis [informed Reuters](https://stocktwits.com/symbol/MNEL) that the firm has launched audits over the past year, but decreased to determine the business targeted since the examinations are ongoing.<br>
<br>The production of [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) from sustainable components, like utilized cooking oil, can make refiners a [variety](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) of state and [federal environmental](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and climate subsidies, including tradable under a program administered by the EPA called the Renewable Fuel [Standard](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd). But fears have actually been mounting that some products identified as used cooking oil are really cheaper and less [sustainable virgin](https://pitchbook.com/profiles/company/51278-86) palm oil, an item that is connected with logging and other environmental damage.<br>
<br>The problem entered focus following a surge in [utilized cooking](https://stocktwits.com/symbol/MNEL) oil [exports](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) from Asia in the last few years that experts have actually stated includes [unrealistically](https://pitchbook.com/profiles/company/51278-86) high volumes relative to the amount of cooking oil utilized and recovered in the region. The European Union is likewise [investigating feedstocks](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) over the [scams concerns](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price).<br>
<br>The EPA audits started after the firm upgraded domestic supply-chain accounting requirements in July 2023 for renewable fuel manufacturers looking for to make credits under the RFS, he stated.<br>
<br>"EPA has carried out audits of renewable fuel manufacturers because July 2023 that includes, to name a few things, an evaluation of the locations that utilized cooking oil utilized in renewable fuel production was collected," he stated. "These investigations, however, are continuous and we are not able to discuss continuous enforcement examinations."<br>
<br>U.S. senators from farm states have called for more oversight of [biofuel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) feedstocks, stating federal companies need to be as strenuous in validating imports as they are auditing [domestic supply](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) chains.<br>
<br>"The Biden administration has actually produced vigorous requirements to confirm, not just trust, American producers, and it is important that the exact 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](https://www.pinterest.com.au/missionnewenergy/) on July 30 urged the [administration](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) to leave out imported feedstocks like UCO from an additional clean fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>