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

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+<br>By Leah Douglas<br>
+<br>Aug 7 (Reuters) - The U.S. Environmental Protection Agency has [introduced examinations](https://www.zoominfo.com/c/mission-newenergy/346542889) into the supply chains of a minimum of 2 eco-friendly fuel manufacturers amid industry concerns that some may be utilizing deceptive feedstocks for [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) to [secure financially](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [rewarding government](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) subsidies.<br>
+<br>EPA spokesperson Jeffrey Landis informed Reuters that the agency has actually launched audits over the previous year, however declined to recognize the [companies targeted](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) because the examinations are ongoing.<br>
+<br>The production of [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) from sustainable components, like [utilized cooking](https://www.crunchbase.com/organization/mission-newenergy) oil, can earn refiners a [multitude](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) of state and federal ecological and [climate](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) aids, [consisting](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) of tradable credits under a program administered by the EPA called the Renewable Fuel Standard. But fears have actually been installing that some materials labeled as utilized cooking oil are in fact cheaper and less  palm oil, an item that is connected with [logging](https://www.pinterest.com.au/missionnewenergy/) and other environmental damage.<br>
+<br>The concern entered focus following a rise in [utilized cooking](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) [oil exports](https://www.businessnews.com.au/Company/Mission-NewEnergy) from Asia in recent years that [analysts](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) have actually stated includes unrealistically high [volumes relative](https://stocktwits.com/symbol/MNEL) to the amount of cooking oil used and recuperated in the area. The European Union is likewise [investigating feedstocks](https://www.google.com/search?kgmid=/m/0cqd_rb) over the scams issues.<br>
+<br>The EPA audits began after the agency [updated domestic](https://stocktwits.com/symbol/MNEL) supply-chain accounting requirements in July 2023 for renewable fuel producers looking for to make [credits](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) under the RFS, he stated.<br>
+<br>"EPA has performed audits of renewable fuel manufacturers given that July 2023 which consists of, among other things, an examination of the areas that used cooking oil utilized in sustainable fuel production was collected," he stated. "These investigations, nevertheless, are ongoing and we are not able to talk about ongoing enforcement examinations."<br>
+<br>U.S. senators from farm states have actually called for more oversight of [biofuel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) feedstocks, saying federal companies ought to be as extensive in validating imports as they are auditing [domestic supply](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) chains.<br>
+<br>"The Biden administration has actually developed vigorous standards to validate, not just trust, American producers, and it is essential that the exact same examination is used to imported feedstocks," 6 U.S. senators, led by Roger Marshall and Sherrod Brown, composed in a June 20 letter to federal companies.<br>
+<br>Another letter from 15 senators to the Treasury Department on July 30 advised the [administration](https://www.google.com/search?kgmid=/m/0cqd_rb) to leave out imported feedstocks like UCO from an additional tidy fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>