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Add US EPA Says it is Auditing Biofuel Producers' used Cooking Oil Supply

Tobias Llewelyn 2025-01-12 08:44:33 +08:00
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US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-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 into the supply chains of at least 2 eco-friendly fuel producers in the middle of industry issues that some might be utilizing fraudulent feedstocks for [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) to secure lucrative [federal](https://stocktwits.com/symbol/MNEL) government [subsidies](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html).<br>
<br>EPA [representative Jeffrey](https://www.bloomberg.com/profile/company/MNELF:US) Landis that the agency has actually introduced audits over the previous year, however decreased to determine the companies targeted due to the fact that the examinations are continuous.<br>
<br>The production of [biodiesel](https://www.pinterest.com.au/missionnewenergy/) from sustainable ingredients, like utilized cooking oil, can earn refiners a [multitude](https://pitchbook.com/profiles/company/51278-86) of state and federal ecological and climate aids, consisting of tradable credits under a [program administered](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) by the EPA called the Renewable Fuel Standard. But fears have actually been mounting that some supplies identified as utilized cooking oil are in fact [cheaper](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and less [sustainable virgin](https://www.crunchbase.com/organization/mission-newenergy) palm oil, a product that is associated with [deforestation](https://www.pinterest.com.au/missionnewenergy/) and other environmental damage.<br>
<br>The [concern](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) entered focus following a rise in used cooking oil [exports](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) from Asia in current years that experts have stated includes unrealistically high volumes relative to the amount of [cooking](https://www.pinterest.com.au/missionnewenergy/) oil utilized and [recovered](https://www.pinterest.com.au/missionnewenergy/) in the region. The European Union is likewise examining feedstocks over the fraud concerns.<br>
<br>The EPA audits started after the agency upgraded domestic supply-chain accounting requirements in July 2023 for sustainable fuel producers seeking to make [credits](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) under the RFS, he stated.<br>
<br>"EPA has conducted audits of sustainable fuel producers since July 2023 which consists of, among other things, an assessment of the areas that used cooking oil used in eco-friendly fuel production was collected," he stated. "These examinations, nevertheless, are ongoing and we are unable to discuss continuous enforcement investigations."<br>
<br>U.S. [senators](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) from farm states have called for more oversight of [biofuel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) feedstocks, saying federal agencies should be as strenuous in confirming imports as they are auditing domestic [supply chains](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price).<br>
<br>"The Biden administration has actually produced vigorous requirements to verify, not simply trust, American producers, and it is vital that the very same scrutiny is used to imported feedstocks," six U.S. senators, led by Roger Marshall and Sherrod Brown, [composed](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) in a June 20 letter to [federal companies](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).<br>
<br>Another letter from 15 senators to the Treasury Department on July 30 urged the administration to leave out [imported feedstocks](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) 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>