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

Katherine Angulo 2025-01-11 22:39:16 +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. [Environmental Protection](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Agency has [launched examinations](https://www.google.com/search?kgmid=/m/0cqd_rb) into the supply chains of at least two sustainable fuel producers amid industry issues that some might be using deceitful feedstocks for [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) to protect profitable government [subsidies](https://stocktwits.com/symbol/MNEL).<br>
<br>EPA spokesperson [Jeffrey](https://www.pinterest.com.au/missionnewenergy/) Landis told Reuters that the firm has actually introduced audits over the past year, however [declined](https://www.crunchbase.com/organization/mission-newenergy) to determine the business targeted due to the fact that the examinations are continuous.<br>
<br>The production of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) from sustainable active ingredients, like used cooking oil, can make [refiners](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) a slew of state and federal environmental and environment subsidies, consisting of tradable credits under a [program](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) administered by the EPA called the Renewable Fuel Standard. But worries have been mounting that some materials identified as used cooking oil are actually more affordable and less sustainable virgin palm oil, a product that is connected with deforestation and other environmental damage.<br>
<br>The problem entered into focus following a surge in used [cooking oil](https://www.bloomberg.com/profile/company/MNELF:US) [exports](https://forest500.org/rankings/companies/mission-newenergy-limited) from Asia in recent years that analysts have actually said includes unrealistically high volumes relative to the [quantity](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) of cooking oil used and recovered in the region. The [European Union](https://www.crunchbase.com/organization/mission-newenergy) is likewise examining feedstocks over the scams concerns.<br>
<br>The EPA audits started after the [firm upgraded](https://www.crunchbase.com/organization/mission-newenergy) domestic supply-chain accounting requirements in July 2023 for eco-friendly fuel producers seeking to make credits under the RFS, he said.<br>
<br>"EPA has performed audits of sustainable fuel manufacturers because July 2023 which consists of, amongst other things, an assessment of the areas that utilized cooking oil used in renewable fuel production was gathered," he said. "These investigations, nevertheless, are continuous and we are unable to discuss continuous enforcement examinations."<br>
<br>U.S. senators from farm states have called for more oversight of [biofuel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) feedstocks, stating federal [companies](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) must be as extensive in verifying imports as they are [auditing](https://www.businessnews.com.au/Company/Mission-NewEnergy) [domestic supply](https://pitchbook.com/profiles/company/51278-86) chains.<br>
<br>"The Biden administration has actually produced vigorous requirements to verify, not simply trust, American producers, and it is essential that the very same scrutiny is used to imported feedstocks," 6 U.S. senators, led by Roger Marshall and Sherrod Brown, [composed](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) in a June 20 letter to federal agencies.<br>
<br>Another letter from 15 senators to the [Treasury Department](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) on July 30 prompted the [administration](https://www.bloomberg.com/profile/company/MNELF:US) 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 by Richard Valdmanis and Matthew Lewis)<br>