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

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

@@ -0,0 +1,10 @@
+<br>By Leah Douglas<br>
+<br>Aug 7 (Reuters) - The U.S. Environmental Protection Agency has [introduced examinations](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) into the supply chains of a minimum of 2 renewable fuel producers amidst market issues that some might be using fraudulent feedstocks for [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) to secure profitable government aids.<br>
+<br>[EPA spokesperson](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) [Jeffrey](https://pitchbook.com/profiles/company/51278-86) Landis told Reuters that the company has actually introduced audits over the previous year, however decreased to recognize the business targeted since the examinations are ongoing.<br>
+<br>The production of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) from sustainable ingredients, like utilized cooking oil, can earn refiners a variety of state and federal ecological and climate subsidies, consisting of tradable credits under a [program](https://www.pinterest.com.au/missionnewenergy/) administered by the EPA called the Renewable Fuel [Standard](https://stocktwits.com/symbol/MNEL). But worries have been installing that some [materials identified](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) as [utilized cooking](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) oil are really more [affordable](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and less sustainable virgin palm oil, a product that is [connected](https://www.google.com/search?kgmid=/m/0cqd_rb) with [logging](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and other [ecological damage](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).<br>
+<br>The issue entered focus following a rise in [utilized cooking](https://pitchbook.com/profiles/company/51278-86) oil exports from Asia in the last few years that experts have actually stated includes unrealistically high volumes relative to the amount of cooking oil used and [recovered](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) in the area. The European Union is also examining feedstocks over the [fraud issues](https://stocktwits.com/symbol/MNEL).<br>
+<br>The EPA audits started after the agency upgraded domestic supply-chain accounting requirements in July 2023 for [sustainable fuel](https://pitchbook.com/profiles/company/51278-86) manufacturers seeking to earn credits under the RFS, he said.<br>
+<br>"EPA has actually conducted audits of sustainable fuel producers given that July 2023 that includes, to name a few things, an evaluation of the places that used cooking oil used in sustainable fuel production was collected," he said. "These investigations, nevertheless, are ongoing and we are not able to discuss continuous enforcement investigations."<br>
+<br>U.S. senators from farm states have actually called for 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 companies must be as strenuous in confirming imports as they are auditing domestic supply chains.<br>
+<br>"The Biden administration has actually developed energetic requirements to validate, not just trust, American manufacturers, and it is necessary that the very same analysis is used to imported feedstocks," 6 U.S. senators, led by Roger Marshall and [Sherrod](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) Brown,  in a June 20 letter to federal agencies.<br>
+<br>Another letter from 15 senators to the Treasury Department on July 30 prompted the administration to leave out [imported feedstocks](https://www.pinterest.com.au/missionnewenergy/) 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](https://www.crunchbase.com/organization/mission-newenergy) Valdmanis and Matthew Lewis)<br>