Add 'US EPA Says it is Auditing Biofuel Producers' Secondhand Cooking Oil Supply'

US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md

@@ -0,0 +1,10 @@
+<br>By Leah Douglas<br>
+<br>Aug 7 (Reuters) - The U.S. Epa has launched examinations into the [supply chains](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of a minimum of two renewable fuel [producers](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) in the middle of [industry issues](https://www.google.com/search?kgmid=/m/0cqd_rb) that some might be using deceptive feedstocks for [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) to secure rewarding federal government aids.<br>
+<br>EPA representative Jeffrey Landis told Reuters that the firm has launched audits over the past year, however declined to determine the business targeted since the [investigations](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) are ongoing.<br>
+<br>The production of [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) from [sustainable](https://www.pinterest.com.au/missionnewenergy/) ingredients, like used [cooking](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) oil, can make [refiners](https://www.pinterest.com.au/missionnewenergy/) a slew of state and federal ecological and climate subsidies, consisting of tradable credits under a program administered by the EPA called the Renewable Fuel Standard. But  have actually been mounting that some products identified as utilized cooking oil are actually more affordable and less sustainable virgin palm oil, a [product](https://www.businessnews.com.au/Company/Mission-NewEnergy) that is related to deforestation and other [environmental damage](https://www.crunchbase.com/organization/mission-newenergy).<br>
+<br>The concern entered into focus following a surge in used cooking oil exports from Asia in recent years that experts have stated includes [unrealistically](https://www.businessnews.com.au/Company/Mission-NewEnergy) high volumes relative to the quantity of cooking oil used and [recuperated](https://www.bloomberg.com/profile/company/MNELF:US) in the area. The European Union is likewise examining feedstocks over the fraud concerns.<br>
+<br>The EPA audits began after the agency upgraded domestic supply-chain accounting requirements in July 2023 for [sustainable fuel](https://www.crunchbase.com/organization/mission-newenergy) manufacturers seeking to make credits under the RFS, he stated.<br>
+<br>"EPA has performed audits of eco-friendly fuel manufacturers considering that July 2023 that includes, among other things, an evaluation of the places that utilized cooking oil utilized in eco-friendly fuel production was gathered," he said. "These examinations, nevertheless, are ongoing and we are unable to discuss ongoing enforcement examinations."<br>
+<br>U.S. senators from farm states have actually required more [oversight](https://www.bloomberg.com/profile/company/MNELF:US) of [biofuel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) feedstocks, saying federal agencies ought to be as strenuous in [validating imports](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) as they are auditing [domestic supply](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) chains.<br>
+<br>"The Biden administration has actually developed energetic requirements to confirm, not simply trust, American producers, and it is vital that the very same examination is used to imported feedstocks," six U.S. senators, led by Roger Marshall and Sherrod Brown, wrote 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 to leave out [imported feedstocks](https://www.businessnews.com.au/Company/Mission-NewEnergy) like UCO from an [extra tidy](https://pitchbook.com/profiles/company/51278-86) fuel tax credit program passed in the Inflation Reduction Act. (Reporting by [Leah Douglas](https://pitchbook.com/profiles/company/51278-86) in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>