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

Leonardo Badgett 2025-01-17 21:49:40 +00:00
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US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md Normal file

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<br>By Leah Douglas<br>
<br>Aug 7 (Reuters) - The U.S. [Environmental Protection](https://www.zoominfo.com/c/mission-newenergy/346542889) Agency has actually [introduced investigations](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) into the supply chains of a minimum of 2 sustainable fuel producers amidst market concerns that some might be using for [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) to protect financially rewarding federal government aids.<br>
<br>EPA spokesperson Jeffrey Landis told Reuters that the firm has [launched audits](https://pitchbook.com/profiles/company/51278-86) over the previous year, but declined to identify the [business targeted](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) due to the fact that the examinations are [ongoing](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).<br>
<br>The production of [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) from [sustainable](https://www.bloomberg.com/profile/company/MNELF:US) components, like [utilized cooking](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) oil, can earn refiners a variety of state and federal environmental and climate subsidies, consisting of tradable credits under a program administered by the EPA called the Renewable Fuel Standard. But worries have been mounting that some products labeled as used cooking oil are really less expensive and less sustainable virgin palm oil, an item that is related to logging and other environmental damage.<br>
<br>The concern entered focus following a rise in [utilized cooking](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) oil [exports](https://www.google.com/search?kgmid=/m/0cqd_rb) from Asia over the last few years that analysts have stated involves unrealistically high [volumes relative](https://www.zoominfo.com/c/mission-newenergy/346542889) to the quantity of cooking oil used and recovered in the region. The European Union is likewise examining feedstocks over the fraud concerns.<br>
<br>The EPA audits began after the company upgraded domestic [supply-chain](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [accounting](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) requirements in July 2023 for [renewable fuel](https://forest500.org/rankings/companies/mission-newenergy-limited) producers seeking to [earn credits](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) under the RFS, he said.<br>
<br>"EPA has actually conducted audits of renewable fuel producers given that July 2023 that includes, among other things, an assessment of the areas that utilized cooking oil used in eco-friendly fuel production was gathered," he said. "These examinations, nevertheless, are ongoing and we are not able to discuss continuous enforcement examinations."<br>
<br>U.S. senators from farm states have actually required more [oversight](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) of [biofuel](https://stocktwits.com/symbol/MNEL) feedstocks, saying federal firms should be as extensive in confirming imports as they are [auditing](https://www.bloomberg.com/profile/company/MNELF:US) domestic supply chains.<br>
<br>"The Biden administration has created vigorous requirements to validate, not just trust, American manufacturers, and it is vital that the very same examination is used to imported feedstocks," six U.S. senators, led by Roger Marshall and Sherrod Brown, composed in a June 20 letter to [federal firms](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html).<br>
<br>Another letter from 15 senators to the Treasury Department on July 30 advised the [administration](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) to omit imported feedstocks like UCO from an additional clean fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>