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Add US EPA Says it is Auditing Biofuel Producers' Pre-owned Cooking Oil Supply

Daniele Michalik 2025-01-11 22:32:20 +01:00
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US EPA Says it is Auditing Biofuel Producers%27 Pre-owned Cooking Oil Supply.-.md Normal file

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<br>By Leah Douglas<br>
<br>Aug 7 (Reuters) - The U.S. Environmental Protection Agency has actually [launched examinations](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) into the supply chains of a minimum of 2 eco-friendly fuel [manufacturers](https://www.bloomberg.com/profile/company/MNELF:US) in the middle of industry concerns that some might be using fraudulent feedstocks for [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) to protect rewarding government aids.<br>
<br>EPA spokesperson Jeffrey Landis informed Reuters that the company has [introduced audits](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) over the previous year, however declined to determine the business targeted due to the fact that the investigations are continuous.<br>
<br>The production of [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) from [sustainable](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) ingredients, like utilized cooking oil, can earn refiners a variety of state and federal environmental and climate aids, including tradable credits under a program administered by the EPA called the Renewable Fuel [Standard](https://pitchbook.com/profiles/company/51278-86). But fears have been installing that some supplies identified as used cooking oil are actually less expensive and less [sustainable virgin](https://www.pinterest.com.au/missionnewenergy/) palm oil, an item that is associated with deforestation and other [ecological damage](https://forest500.org/rankings/companies/mission-newenergy-limited).<br>
<br>The issue entered focus following a surge in used [cooking oil](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) exports from Asia in the last few years that [analysts](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) have said includes unrealistically high volumes relative to the amount of cooking oil used and recuperated in the area. The European Union is likewise [examining](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) over the scams issues.<br>
<br>The EPA audits began after the firm updated [domestic](https://www.crunchbase.com/organization/mission-newenergy) [supply-chain accounting](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) requirements in July 2023 for renewable fuel manufacturers seeking to make credits under the RFS, he said.<br>
<br>"EPA has actually conducted audits of renewable fuel producers because July 2023 that includes, to name a few things, an examination of the places that utilized cooking oil used in eco-friendly fuel production was gathered," he stated. "These examinations, however, are ongoing and we are unable to discuss ongoing enforcement investigations."<br>
<br>U.S. senators from farm states have actually called for more oversight of [biofuel](https://stocktwits.com/symbol/MNEL) feedstocks, [stating federal](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) agencies should be as strenuous in validating imports as they are auditing [domestic supply](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) chains.<br>
<br>"The Biden administration has created energetic requirements to verify, not simply trust, American manufacturers, and it is important that the very same analysis 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.<br>
<br>Another letter from 15 senators to the Treasury Department on July 30 [prompted](https://forest500.org/rankings/companies/mission-newenergy-limited) the [administration](https://pitchbook.com/profiles/company/51278-86) to exclude imported [feedstocks](https://forest500.org/rankings/companies/mission-newenergy-limited) like UCO from an [extra tidy](https://stocktwits.com/symbol/MNEL) fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>