From 48f9eb07b55cc20889ebc95a76a8c623f81a0d62 Mon Sep 17 00:00:00 2001 From: Dessie Goldschmidt Date: Sun, 12 Jan 2025 05:18:34 +0000 Subject: [PATCH] Add US EPA Says it is Auditing Biofuel Producers' used Cooking Oil Supply --- ...ing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md | 10 ++++++++++ 1 file changed, 10 insertions(+) create mode 100644 US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md diff --git a/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md new file mode 100644 index 0000000..75f2764 --- /dev/null +++ b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md @@ -0,0 +1,10 @@ +
By Leah Douglas
+
Aug 7 (Reuters) - The U.S. Environmental Protection Agency has introduced investigations into the supply chains of a minimum of two eco-friendly fuel manufacturers amidst market issues that some may be utilizing deceptive feedstocks for [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) to protect rewarding government subsidies.
+
EPA spokesperson Jeffrey Landis told Reuters that the firm has introduced audits over the previous year, however [decreased](https://pitchbook.com/profiles/company/51278-86) to recognize the because the examinations are [continuous](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).
+
The production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) from sustainable components, like used cooking oil, can make [refiners](https://forest500.org/rankings/companies/mission-newenergy-limited) a multitude of state and federal environmental and climate subsidies, consisting of tradable credits under a [program](https://www.crunchbase.com/organization/mission-newenergy) administered by the EPA called the Renewable Fuel [Standard](https://forest500.org/rankings/companies/mission-newenergy-limited). But fears have been installing that some materials labeled as used cooking oil are actually more [affordable](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and less sustainable virgin palm oil, a product that is connected with logging and other [environmental damage](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html).
+
The concern entered focus following a rise in utilized cooking oil exports from Asia recently that [experts](https://www.bloomberg.com/profile/company/MNELF:US) have stated includes unrealistically high volumes relative to the quantity of cooking oil used and recuperated in the region. The European Union is also examining feedstocks over the fraud concerns.
+
The EPA audits started after the agency updated domestic supply-chain accounting requirements in July 2023 for sustainable fuel producers seeking to make credits under the RFS, he said.
+
"EPA has carried out audits of sustainable fuel manufacturers since July 2023 that includes, to name a few things, an evaluation of the locations that utilized cooking oil used in eco-friendly fuel production was gathered," he stated. "These investigations, nevertheless, are continuous and we are not able to go over ongoing enforcement examinations."
+
U.S. [senators](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) from farm states have called for more oversight of [biofuel](https://stocktwits.com/symbol/MNEL) feedstocks, saying federal companies ought to be as rigorous in [confirming imports](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) as they are [auditing](https://www.pinterest.com.au/missionnewenergy/) [domestic supply](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) chains.
+
"The Biden administration has developed vigorous requirements to confirm, not simply trust, American manufacturers, and it is vital that the very same analysis is used to imported feedstocks," 6 U.S. senators, led by [Roger Marshall](https://forest500.org/rankings/companies/mission-newenergy-limited) and [Sherrod](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Brown, wrote in a June 20 letter to federal firms.
+
Another letter from 15 senators to the Treasury Department on July 30 prompted the administration to [exclude imported](https://www.zoominfo.com/c/mission-newenergy/346542889) [feedstocks](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) like UCO from an [additional tidy](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) fuel [tax credit](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)
\ No newline at end of file