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. Epa has actually [introduced examinations](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) into the supply chains of at least two [renewable](https://www.crunchbase.com/organization/mission-newenergy) [fuel manufacturers](https://www.google.com/search?kgmid=/m/0cqd_rb) in the middle of industry issues that some might be utilizing deceptive feedstocks for [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) to protect rewarding government aids.<br>
+<br>EPA representative Jeffrey Landis told Reuters that the company has actually [launched audits](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) over the previous year, however [decreased](https://www.google.com/search?kgmid=/m/0cqd_rb) to identify the [companies targeted](https://www.businessnews.com.au/Company/Mission-NewEnergy) because the examinations are ongoing.<br>
+<br>The production of [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) from sustainable components, like [utilized cooking](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) oil, can make refiners a multitude of state and federal environmental and environment subsidies, including tradable credits under a [program administered](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) by the EPA called the Renewable Fuel Standard. But worries have actually been mounting that some [supplies labeled](https://www.pinterest.com.au/missionnewenergy/) as utilized cooking oil are really more affordable and less sustainable virgin palm oil, an item that is  with [deforestation](https://www.bloomberg.com/profile/company/MNELF:US) and other [environmental damage](https://www.investing.com/equities/mission-newenergy-ltd-company-profile).<br>
+<br>The problem came into focus following a surge in used cooking oil exports from Asia in current years that analysts have actually said includes unrealistically high volumes relative to the quantity of cooking oil [utilized](https://www.google.com/search?kgmid=/m/0cqd_rb) and recovered in the area. The European Union is likewise [examining](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) feedstocks over the fraud concerns.<br>
+<br>The EPA audits began after the firm updated domestic supply-chain accounting requirements in July 2023 for renewable fuel manufacturers seeking to make credits under the RFS, he said.<br>
+<br>"EPA has actually performed audits of renewable fuel producers given that July 2023 which includes, among other things, an assessment of the places that utilized cooking oil utilized in eco-friendly fuel production was collected," he stated. "These investigations, however, are continuous and we are not able to talk about continuous enforcement examinations."<br>
+<br>U.S. senators from farm states have required more oversight of [biofuel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) feedstocks, saying federal firms must be as rigorous in [validating imports](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) as they are auditing domestic [supply chains](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048).<br>
+<br>"The Biden administration has developed energetic requirements to verify, not just trust, American manufacturers, and it is imperative that the same analysis is applied to imported feedstocks," six U.S. senators, led by [Roger Marshall](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) 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 prompted the administration to leave out [imported feedstocks](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) like UCO from an additional tidy fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington [Editing](https://www.google.com/search?kgmid=/m/0cqd_rb) by Richard Valdmanis and Matthew Lewis)<br>