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

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+<br>By Leah Douglas<br>
+<br>Aug 7 (Reuters) - The U.S.  Agency has actually [launched investigations](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) into the supply chains of a minimum of two eco-friendly fuel [producers amid](https://pitchbook.com/profiles/company/51278-86) industry [concerns](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) that some might be utilizing fraudulent [feedstocks](https://forest500.org/rankings/companies/mission-newenergy-limited) for [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) to protect lucrative federal government aids.<br>
+<br>[EPA representative](https://forest500.org/rankings/companies/mission-newenergy-limited) Jeffrey Landis informed [Reuters](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) that the agency has actually released audits over the previous year, but [decreased](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) to recognize the business targeted because the investigations are ongoing.<br>
+<br>The [production](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) of [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) from sustainable active ingredients, like used cooking oil, can earn refiners a multitude of state and federal environmental and climate aids, including tradable credits under a program administered by the EPA called the Renewable Fuel [Standard](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048). But fears have been installing that some products identified as utilized cooking oil are in fact cheaper and less sustainable virgin palm oil, an item that is connected with deforestation and other [environmental damage](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html).<br>
+<br>The problem entered focus following a rise in used [cooking oil](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) exports from Asia in current years that analysts have stated involves [unrealistically](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) high volumes relative to the quantity of cooking oil utilized and recovered in the region. The European Union is likewise examining feedstocks over the scams concerns.<br>
+<br>The EPA audits started after the agency updated domestic supply-chain accounting requirements in July 2023 for eco-friendly fuel producers looking for to earn credits under the RFS, he said.<br>
+<br>"EPA has performed audits of eco-friendly fuel producers considering that July 2023 which includes, amongst other things, an evaluation of the locations that used cooking oil utilized in renewable fuel production was gathered," he said. "These examinations, however, are ongoing and we are unable to go over continuous enforcement investigations."<br>
+<br>U.S. senators from farm states have called for more oversight of [biofuel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) feedstocks, stating federal companies should be as strenuous in confirming imports as they are [auditing](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [domestic supply](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) chains.<br>
+<br>"The Biden administration has developed vigorous requirements to confirm, not simply trust, American manufacturers, and it is necessary that the exact same scrutiny 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.<br>
+<br>Another letter from 15 senators to the [Treasury Department](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) on July 30 prompted the administration to exclude imported feedstocks like UCO from an additional tidy fuel tax credit program passed in the [Inflation Reduction](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Act. (Reporting by [Leah Douglas](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) in Washington Editing by [Richard](https://pitchbook.com/profiles/company/51278-86) Valdmanis and Matthew Lewis)<br>