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

Tawanna Armbruster 2025-01-12 02:51:26 +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 into the supply chains of a minimum of 2 sustainable fuel producers amidst industry concerns that some might be utilizing deceptive [feedstocks](https://pitchbook.com/profiles/company/51278-86) for [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) to protect rewarding government subsidies.<br>
<br>EPA spokesperson Jeffrey Landis told Reuters that the company has [introduced audits](https://www.pinterest.com.au/missionnewenergy/) over the previous year, but [declined](https://pitchbook.com/profiles/company/51278-86) to identify the [companies targeted](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) since the examinations are ongoing.<br>
<br>The production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) from sustainable components, 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 multitude of state and [federal ecological](https://pitchbook.com/profiles/company/51278-86) and environment subsidies, consisting of tradable credits under a program administered by the EPA called the Renewable Fuel [Standard](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608). But worries have been installing that some supplies identified as used cooking oil are actually less expensive and less sustainable virgin palm oil, a product that is connected with deforestation and other environmental damage.<br>
<br>The [concern](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) came into focus following a rise in used cooking oil exports from Asia recently that analysts have said involves unrealistically high volumes relative to the [quantity](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) of cooking oil utilized and recovered in the area. The European Union is likewise investigating feedstocks over the scams concerns.<br>
<br>The EPA audits started after the agency updated domestic [supply-chain accounting](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) requirements in July 2023 for eco-friendly fuel manufacturers seeking to make credits under the RFS, he said.<br>
<br>"EPA has performed audits of renewable fuel producers because July 2023 which consists of, to name a few things, an assessment of the places that used cooking oil utilized in eco-friendly fuel production was collected," he said. "These investigations, however, are continuous and we are unable to go over continuous enforcement examinations."<br>
<br>U.S. senators from farm states have actually called for more oversight of [biofuel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) feedstocks, stating federal companies should be as [extensive](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) in confirming imports as they are auditing domestic [supply chains](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608).<br>
<br>"The Biden administration has created energetic standards to confirm, not just trust, American manufacturers, and it is essential that the exact same examination is applied to imported feedstocks," 6 U.S. senators, led by [Roger Marshall](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) and Sherrod Brown, composed in a June 20 letter to [federal agencies](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).<br>
<br>Another letter from 15 senators to the Treasury Department on July 30 [advised](https://pitchbook.com/profiles/company/51278-86) the [administration](https://pitchbook.com/profiles/company/51278-86) to leave out imported feedstocks like UCO from an additional clean fuel tax credit program passed in the [Inflation Reduction](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Act. ([Reporting](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) by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>