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. Epa has [released examinations](https://www.bloomberg.com/profile/company/MNELF:US) into the supply chains of a minimum of 2 [eco-friendly](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) fuel manufacturers amid industry issues that some might be utilizing deceitful feedstocks for [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) to protect financially rewarding federal government aids.<br>
+<br>[EPA spokesperson](https://forest500.org/rankings/companies/mission-newenergy-limited) Jeffrey Landis told Reuters that the company has introduced audits over the past year, however decreased to identify the business targeted because the examinations are [continuous](https://www.crunchbase.com/organization/mission-newenergy).<br>
+<br>The [production](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) from [sustainable](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) ingredients, like utilized cooking oil, can earn refiners a [multitude](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) of state and federal ecological and environment aids, including tradable credits under a [program administered](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) by the EPA called the Renewable Fuel Standard. But worries have been installing that some products identified as used cooking oil are really more affordable and less [sustainable virgin](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) palm oil, an item that is associated with deforestation and other ecological damage.<br>
+<br>The problem entered into focus following a surge in used cooking oil  from Asia in current years that analysts have actually said involves unrealistically high volumes relative to the amount of cooking oil used and recovered in the area. The European Union is likewise examining feedstocks over the fraud concerns.<br>
+<br>The EPA audits began after the agency updated domestic supply-chain accounting requirements in July 2023 for sustainable fuel [manufacturers](https://www.crunchbase.com/organization/mission-newenergy) seeking to [earn credits](https://pitchbook.com/profiles/company/51278-86) under the RFS, he stated.<br>
+<br>"EPA has conducted audits of sustainable fuel producers since July 2023 that includes, among other things, an examination of the areas that used cooking oil utilized in sustainable fuel production was collected," he stated. "These examinations, nevertheless, are ongoing and we are unable to go over continuous enforcement investigations."<br>
+<br>U.S. [senators](https://www.businessnews.com.au/Company/Mission-NewEnergy) from farm states have [required](https://www.pinterest.com.au/missionnewenergy/) more oversight of [biofuel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) feedstocks, stating federal [agencies](https://www.zoominfo.com/c/mission-newenergy/346542889) need to be as rigorous in verifying imports as they are auditing domestic supply chains.<br>
+<br>"The Biden administration has developed vigorous requirements to verify, not simply trust, American producers, and it is important that the same analysis is used to imported feedstocks," 6 U.S. senators, led by [Roger Marshall](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) and Sherrod Brown, wrote in a June 20 letter to federal agencies.<br>
+<br>Another letter from 15 [senators](https://www.google.com/search?kgmid=/m/0cqd_rb) to the Treasury Department on July 30 [advised](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) the administration to omit imported feedstocks like UCO from an extra clean fuel tax credit program passed in the Inflation Reduction Act. (Reporting by [Leah Douglas](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>