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

Amee Ladd 2025-01-12 04:20:55 +00:00
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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. [Environmental Protection](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Agency has actually introduced investigations into the [supply chains](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) of a minimum of 2 renewable fuel [manufacturers](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) amid market issues that some might be utilizing deceptive feedstocks for [biodiesel](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 protect rewarding government subsidies.<br>
<br>EPA representative Jeffrey Landis [informed Reuters](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) that the firm has actually introduced audits over the previous year, but decreased to determine the business targeted because the examinations are continuous.<br>
<br>The [production](https://stocktwits.com/symbol/MNEL) of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) from sustainable ingredients, like used cooking oil, can make refiners a [variety](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of state and federal ecological and aids, including tradable credits under a program administered by the EPA called the Renewable Fuel Standard. But fears have been installing that some products identified as [utilized cooking](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) oil are really less expensive and less sustainable virgin palm oil, a product that is associated with deforestation and other environmental damage.<br>
<br>The concern entered focus following a rise in utilized cooking oil exports from Asia in current years that analysts have stated involves unrealistically high volumes relative to the amount of cooking oil utilized and [recuperated](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) in the region. The European Union is also [examining](https://stocktwits.com/symbol/MNEL) feedstocks over the fraud issues.<br>
<br>The EPA audits started after the company updated domestic supply-chain accounting requirements in July 2023 for sustainable [fuel producers](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) looking for to [earn credits](https://forest500.org/rankings/companies/mission-newenergy-limited) under the RFS, he said.<br>
<br>"EPA has actually performed audits of eco-friendly fuel manufacturers given that July 2023 that includes, among other things, an examination of the locations that used cooking oil utilized in eco-friendly fuel production was collected," he said. "These investigations, nevertheless, are ongoing and we are not able to discuss continuous enforcement examinations."<br>
<br>U.S. senators from farm states have actually required more [oversight](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) of [biofuel](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, [stating federal](https://pitchbook.com/profiles/company/51278-86) firms should be as [strenuous](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) in confirming imports as they are auditing domestic supply chains.<br>
<br>"The Biden administration has produced energetic requirements to verify, not simply trust, American producers, and it is essential that the exact same analysis is used to imported feedstocks," 6 U.S. senators, led by [Roger Marshall](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and Sherrod Brown, wrote in a June 20 letter to federal agencies.<br>
<br>Another letter from 15 senators to the Treasury Department on July 30 prompted the administration to exclude imported feedstocks like UCO from an extra tidy [fuel tax](https://stocktwits.com/symbol/MNEL) credit [program passed](https://www.google.com/search?kgmid=/m/0cqd_rb) in the [Inflation Reduction](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>