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..270d535 --- /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
+
Aug 7 (Reuters) - The U.S. Environmental Protection Agency has introduced investigations into the supply chains of at least 2 sustainable fuel manufacturers amidst market issues that some might be using fraudulent feedstocks for [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) to protect profitable government aids.
+
EPA representative Jeffrey [Landis informed](https://www.google.com/search?kgmid=/m/0cqd_rb) Reuters that the company has released audits over the previous year, however decreased to determine the companies targeted due to the fact that the examinations are [continuous](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).
+
The production of [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) from sustainable components, like utilized cooking oil, can earn refiners a [variety](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) of state and federal environmental and [environment](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) aids, [including tradable](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) credits under a program administered by the EPA called the [Renewable Fuel](https://www.crunchbase.com/organization/mission-newenergy) Standard. But worries have been [mounting](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) that some materials identified as used cooking oil are in fact cheaper and less [sustainable virgin](https://www.google.com/search?kgmid=/m/0cqd_rb) palm oil, an item that is connected with logging and other environmental damage.
+
The [concern](https://www.pinterest.com.au/missionnewenergy/) entered focus following a surge in used cooking oil [exports](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) from Asia in [current](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) years that experts have said includes unrealistically high [volumes relative](https://www.pinterest.com.au/missionnewenergy/) to the amount of cooking oil utilized and [recuperated](https://www.crunchbase.com/organization/mission-newenergy) in the region. The European Union is also [investigating feedstocks](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) over the [scams concerns](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).
+
The EPA audits started after the [company upgraded](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) domestic supply-chain accounting requirements in July 2023 for renewable fuel manufacturers looking for to earn credits under the RFS, he stated.
+
"EPA has carried out audits of renewable fuel producers given that July 2023 that includes, among other things, an examination of the places that used cooking oil utilized in eco-friendly fuel production was gathered," he stated. "These examinations, however, are continuous and we are unable to discuss continuous enforcement investigations."
+
U.S. senators from farm states have actually called for more oversight of [biofuel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) feedstocks, saying federal firms must be as extensive in confirming imports as they are auditing domestic supply chains.
+
"The Biden administration has actually created energetic standards to verify, not just trust, American producers, and it is important that the exact same examination is applied to imported feedstocks," six U.S. senators, led by Roger Marshall and Sherrod Brown, wrote in a June 20 letter to federal companies.
+
Another letter from 15 senators to the Treasury Department on July 30 [advised](https://www.pinterest.com.au/missionnewenergy/) the administration to omit imported feedstocks like UCO from an [additional tidy](https://www.zoominfo.com/c/mission-newenergy/346542889) fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Lewis)
\ No newline at end of file