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

US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md

@@ -0,0 +1,10 @@
+<br>By Leah Douglas<br>
+<br>Aug 7 (Reuters) - The U.S. Epa has [released investigations](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) into the supply chains of a minimum of two eco-friendly [fuel manufacturers](https://forest500.org/rankings/companies/mission-newenergy-limited) amid industry issues that some might be utilizing fraudulent feedstocks for [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) to [protect rewarding](https://www.google.com/search?kgmid=/m/0cqd_rb) [federal government](https://www.google.com/search?kgmid=/m/0cqd_rb) aids.<br>
+<br>EPA representative Jeffrey Landis [informed](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [Reuters](https://www.crunchbase.com/organization/mission-newenergy) that the agency has introduced audits over the previous year, but decreased to determine the [companies targeted](https://www.businessnews.com.au/Company/Mission-NewEnergy) since the investigations are ongoing.<br>
+<br>The production of [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) from sustainable ingredients, like used [cooking](https://www.google.com/search?kgmid=/m/0cqd_rb) oil, can make refiners a slew of state and [federal environmental](https://www.crunchbase.com/organization/mission-newenergy) and environment aids, including tradable credits under a [program administered](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) by the EPA called the [Renewable Fuel](https://www.google.com/search?kgmid=/m/0cqd_rb) Standard. But worries have been installing that some materials labeled as used cooking oil are really cheaper and less sustainable virgin palm oil, an item that is related to logging and other .<br>
+<br>The issue entered focus following a rise in [utilized cooking](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) oil exports from Asia in the last few years that experts have stated includes unrealistically high volumes relative to the amount of cooking oil utilized and recovered in the area. The [European Union](https://stocktwits.com/symbol/MNEL) is likewise examining feedstocks over the fraud concerns.<br>
+<br>The EPA audits started after the company upgraded domestic supply-chain accounting requirements in July 2023 for renewable fuel producers looking for to make credits under the RFS, he said.<br>
+<br>"EPA has performed audits of sustainable fuel manufacturers since July 2023 that includes, to name a few things, an evaluation of the areas that used cooking oil utilized in sustainable fuel production was gathered," he said. "These investigations, however, are ongoing and we are not able to discuss ongoing enforcement examinations."<br>
+<br>U.S. [senators](https://www.bloomberg.com/profile/company/MNELF:US) from farm states have actually required more oversight of [biofuel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) feedstocks, saying federal agencies need to be as [rigorous](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) in validating imports as they are [auditing domestic](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) supply chains.<br>
+<br>"The Biden administration has created vigorous requirements to confirm, not simply trust, American manufacturers, and it is imperative that the same examination is used to imported feedstocks," 6 U.S. senators, led by Roger Marshall and Sherrod Brown, wrote in a June 20 letter to federal firms.<br>
+<br>Another letter from 15 senators to the Treasury Department on July 30 prompted the administration to leave out imported feedstocks like UCO from an extra clean [fuel tax](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) credit [program passed](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>