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

@@ -0,0 +1,10 @@
+<br>By Leah Douglas<br>
+<br>Aug 7 (Reuters) - The U.S. Environmental Protection Agency has released investigations into the supply chains of a minimum of two eco-friendly fuel [manufacturers](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) in the middle of [industry issues](https://www.crunchbase.com/organization/mission-newenergy) that some might be using deceptive feedstocks for [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) to protect lucrative federal government aids.<br>
+<br>EPA representative Jeffrey Landis informed Reuters that the firm has introduced audits over the previous year, however decreased to determine the business targeted because the examinations are continuous.<br>
+<br>The production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) from sustainable ingredients, like used cooking oil, can make 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. But worries have been mounting that some supplies labeled as [utilized cooking](https://pitchbook.com/profiles/company/51278-86) oil are really more [affordable](https://forest500.org/rankings/companies/mission-newenergy-limited) and less [sustainable virgin](https://forest500.org/rankings/companies/mission-newenergy-limited) palm oil, an item that is connected with deforestation and other [ecological damage](https://pitchbook.com/profiles/company/51278-86).<br>
+<br>The problem came into focus following a rise in used [cooking oil](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) exports from Asia recently that experts have actually stated includes unrealistically high volumes relative to the [quantity](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of cooking oil utilized and recovered in the area. The [European Union](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) is likewise examining [feedstocks](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) over the [fraud issues](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br>
+<br>The [EPA audits](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) began after the firm upgraded [domestic supply-chain](https://pitchbook.com/profiles/company/51278-86) accounting [requirements](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) in July 2023 for eco-friendly fuel manufacturers looking for to make  under the RFS, he said.<br>
+<br>"EPA has performed audits of eco-friendly fuel manufacturers since July 2023 that includes, to name a few things, an examination of the locations that used cooking oil utilized in renewable fuel production was collected," he stated. "These investigations, however, are ongoing and we are not able to talk about ongoing enforcement investigations."<br>
+<br>U.S. senators from farm states have required more oversight of [biofuel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) feedstocks, saying federal companies ought to be as rigorous in verifying imports as they are [auditing domestic](https://stocktwits.com/symbol/MNEL) supply chains.<br>
+<br>"The Biden administration has created energetic requirements to validate, not simply trust, American manufacturers, and it is important that the same scrutiny is applied to imported feedstocks," six U.S. senators, led by Roger Marshall and Sherrod Brown, wrote in a June 20 letter to [federal firms](https://www.investing.com/equities/mission-newenergy-ltd-company-profile).<br>
+<br>Another letter from 15 senators to the [Treasury Department](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) on July 30 urged the administration 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](https://pitchbook.com/profiles/company/51278-86) and Matthew Lewis)<br>