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

Maggie Redmond 2025-01-17 19:34:00 +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. Epa has actually launched investigations into the supply chains of a minimum of two sustainable fuel producers amid market issues that some may be using fraudulent feedstocks for [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) to secure lucrative government aids.<br>
<br>EPA representative Jeffrey Landis [informed Reuters](https://www.businessnews.com.au/Company/Mission-NewEnergy) that the agency has launched audits over the past year, but declined to recognize the companies targeted because the investigations are [continuous](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/).<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 utilized cooking oil, can earn refiners a [multitude](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of state and [federal](https://www.crunchbase.com/organization/mission-newenergy) environmental and climate aids, including tradable under a [program](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) administered by the EPA called the Renewable Fuel Standard. But worries have actually been installing that some materials identified as utilized cooking oil are really more affordable and less sustainable virgin palm oil, an item that is related to deforestation and other ecological damage.<br>
<br>The concern entered into focus following a surge in utilized cooking oil exports from Asia in the last few years that [experts](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) have actually stated involves unrealistically high volumes relative to the amount of cooking [oil utilized](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) and [recovered](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) in the region. The [European Union](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) is also examining feedstocks over the [fraud issues](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price).<br>
<br>The EPA audits started after the agency upgraded domestic supply-chain accounting requirements in July 2023 for [renewable fuel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) [manufacturers](https://stocktwits.com/symbol/MNEL) looking for to earn credits under the RFS, he said.<br>
<br>"EPA has performed audits of renewable fuel manufacturers since July 2023 which consists of, among other things, an assessment of the places that utilized cooking oil utilized in sustainable fuel production was collected," he stated. "These investigations, however, are ongoing and we are not able to discuss ongoing enforcement investigations."<br>
<br>U.S. senators from farm states have actually required more oversight of [biofuel](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) feedstocks, stating federal agencies need to be as rigorous in confirming imports as they are [auditing domestic](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [supply chains](https://www.pinterest.com.au/missionnewenergy/).<br>
<br>"The Biden administration has created vigorous requirements to confirm, not just trust, American manufacturers, and it is imperative that the very same scrutiny is used to imported feedstocks," six U.S. senators, led by [Roger Marshall](https://www.businessnews.com.au/Company/Mission-NewEnergy) and [Sherrod](https://www.crunchbase.com/organization/mission-newenergy) Brown, composed in a June 20 letter to federal firms.<br>
<br>Another letter from 15 senators to the Treasury Department on July 30 [advised](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) the administration to omit imported feedstocks like UCO from an extra tidy fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and [Matthew](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Lewis)<br>