From 2ebd7dcd70a429367e369df5758733f591b9625a Mon Sep 17 00:00:00 2001 From: maritaswope301 Date: Sun, 12 Jan 2025 11:49:55 +0800 Subject: [PATCH] Add US EPA Says it is Auditing Biofuel Producers' Pre-owned Cooking Oil Supply --- ...fuel Producers%27 Pre-owned Cooking Oil Supply.-.md | 10 ++++++++++ 1 file changed, 10 insertions(+) create mode 100644 US EPA Says it is Auditing Biofuel Producers%27 Pre-owned Cooking Oil Supply.-.md diff --git a/US EPA Says it is Auditing Biofuel Producers%27 Pre-owned Cooking Oil Supply.-.md b/US EPA Says it is Auditing Biofuel Producers%27 Pre-owned Cooking Oil Supply.-.md new file mode 100644 index 0000000..bfd3fa5 --- /dev/null +++ b/US EPA Says it is Auditing Biofuel Producers%27 Pre-owned Cooking Oil Supply.-.md @@ -0,0 +1,10 @@ +
By Leah Douglas
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Aug 7 (Reuters) - The U.S. Epa has actually released investigations into the supply chains of at least 2 sustainable fuel manufacturers amidst market concerns that some might be using deceitful feedstocks for [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) to [protect rewarding](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [government](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) aids.
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EPA representative Jeffrey Landis informed [Reuters](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) that the firm has introduced audits over the past year, however decreased to identify the companies targeted since the [examinations](https://www.pinterest.com.au/missionnewenergy/) are continuous.
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The production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) from sustainable ingredients, like [utilized cooking](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) oil, can earn refiners a variety of state and federal environmental and environment aids, including tradable credits under a [program administered](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) by the EPA called the Renewable Fuel Standard. But worries have been mounting that some supplies identified as used cooking oil are in fact less expensive and less sustainable virgin palm oil, an item that is associated with logging and other environmental damage.
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The issue came into focus following a rise in used [cooking oil](https://www.businessnews.com.au/Company/Mission-NewEnergy) [exports](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) from Asia in the last few years that analysts have actually stated includes unrealistically high volumes relative to the quantity of cooking oil utilized and recovered in the area. The [European Union](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) is likewise over the [fraud issues](https://www.google.com/search?kgmid=/m/0cqd_rb).
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The EPA audits started after the agency upgraded domestic supply-chain [accounting](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) requirements in July 2023 for renewable fuel [manufacturers](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) looking for to make [credits](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) under the RFS, he stated.
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"EPA has carried out audits of renewable fuel manufacturers given that July 2023 that includes, to name a few things, an examination of the locations that utilized cooking oil utilized in renewable fuel production was collected," he stated. "These investigations, however, are ongoing and we are unable to discuss continuous enforcement investigations."
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U.S. [senators](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) from farm states have actually called for more oversight of [biofuel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) feedstocks, saying federal firms need to be as rigorous in confirming imports as they are [auditing domestic](https://www.crunchbase.com/organization/mission-newenergy) supply chains.
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"The Biden administration has actually produced energetic standards to confirm, not just trust, American manufacturers, and it is essential that the same analysis is applied to imported feedstocks," six U.S. senators, led by Roger Marshall and Sherrod Brown, [composed](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) in a June 20 letter to federal companies.
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Another letter from 15 senators to the Treasury Department on July 30 prompted the administration to exclude imported feedstocks like UCO from an additional tidy fuel tax credit program passed in the Inflation [Reduction](https://www.zoominfo.com/c/mission-newenergy/346542889) Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and [Matthew](https://www.crunchbase.com/organization/mission-newenergy) Lewis)
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