From 01a7f4b187019233e3b0ded47e8148e0082e90dd Mon Sep 17 00:00:00 2001 From: ariellemolineu Date: Sun, 12 Jan 2025 04:38:31 +0100 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..5e8c73a --- /dev/null +++ b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md @@ -0,0 +1,10 @@ +
By Leah Douglas
+
Aug 7 (Reuters) - The U.S. Epa has actually [released investigations](https://www.businessnews.com.au/Company/Mission-NewEnergy) into the [supply chains](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of at least two sustainable [fuel producers](https://pitchbook.com/profiles/company/51278-86) amid industry issues that some may be using fraudulent feedstocks for [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) to [protect](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) financially rewarding federal government aids.
+
[EPA spokesperson](https://www.crunchbase.com/organization/mission-newenergy) Jeffrey Landis told Reuters that the agency has launched audits over the past year, but declined to determine the companies targeted because the examinations are continuous.
+
The production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) from sustainable active ingredients, like [utilized](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) cooking oil, can make [refiners](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) a slew of state and [federal ecological](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) and climate subsidies, including tradable credits under a [program administered](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) by the EPA called the Renewable Fuel Standard. But fears have actually been installing that some [products labeled](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) as used cooking oil are in fact less expensive and less sustainable virgin palm oil, a product that is connected with logging and other ecological damage.
+
The problem entered into focus following a surge in used cooking oil exports from Asia in recent years that experts have actually stated includes unrealistically high volumes relative to the [quantity](https://www.google.com/search?kgmid=/m/0cqd_rb) of cooking oil used and [recuperated](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) in the region. The European Union is likewise examining [feedstocks](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) over the fraud concerns.
+
The EPA audits started after the agency upgraded domestic supply-chain accounting requirements in July 2023 for eco-friendly fuel producers looking for to under the RFS, he stated.
+
"EPA has performed audits of sustainable fuel manufacturers because July 2023 that includes, among other things, an assessment of the areas that utilized cooking oil utilized in sustainable fuel production was gathered," he stated. "These investigations, nevertheless, are continuous and we are unable to go over continuous enforcement investigations."
+
U.S. [senators](https://pitchbook.com/profiles/company/51278-86) from farm states have actually called for more oversight of [biofuel](https://stocktwits.com/symbol/MNEL) feedstocks, saying federal firms ought to be as rigorous in validating imports as they are auditing domestic supply chains.
+
"The Biden administration has actually created vigorous standards to confirm, not just trust, American producers, and it is necessary that the exact same scrutiny is applied to imported feedstocks," six U.S. senators, led by Roger Marshall and Sherrod Brown, composed in a June 20 letter to federal firms.
+
Another letter from 15 senators to the Treasury Department on July 30 advised the [administration](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 exclude imported feedstocks like UCO from an extra clean [fuel tax](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) credit program passed in the [Inflation Reduction](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Act. (Reporting by Leah Douglas in Washington Editing by [Richard Valdmanis](https://forest500.org/rankings/companies/mission-newenergy-limited) and Matthew Lewis)
\ No newline at end of file