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. [Environmental Protection](https://pitchbook.com/profiles/company/51278-86) Agency has actually introduced investigations into the supply chains of at least two eco-friendly  [amid market](https://pitchbook.com/profiles/company/51278-86) issues that some might be utilizing deceptive feedstocks for [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) to secure profitable federal government aids.<br>
+<br>EPA spokesperson [Jeffrey](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) [Landis informed](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [Reuters](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) that the agency has actually [launched audits](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) over the previous year, however declined to recognize the business targeted due to the fact that the investigations are continuous.<br>
+<br>The production of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) from sustainable active ingredients, like used cooking oil, can make refiners a [variety](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) of state and federal environmental and climate subsidies, [consisting](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of tradable credits under a [program administered](https://www.pinterest.com.au/missionnewenergy/) by the EPA called the Renewable Fuel Standard. But fears have actually been mounting that some materials identified as used [cooking oil](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) are really more affordable and less sustainable virgin palm oil, a product that is associated with deforestation and other ecological damage.<br>
+<br>The [concern](https://stocktwits.com/symbol/MNEL) entered focus following a rise in used cooking oil exports from Asia in recent years that experts have actually stated includes unrealistically high volumes relative to the quantity of cooking oil utilized and recuperated in the area. The European Union is also investigating feedstocks over the fraud concerns.<br>
+<br>The EPA audits started after the firm updated domestic supply-chain accounting requirements in July 2023 for sustainable fuel producers seeking to make credits under the RFS, he said.<br>
+<br>"EPA has actually conducted audits of eco-friendly fuel producers given that July 2023 that includes, amongst other things, an evaluation of the areas that utilized cooking oil utilized in renewable fuel production was collected," he stated. "These examinations, nevertheless, are continuous and we are unable to talk about ongoing enforcement investigations."<br>
+<br>U.S. senators from farm states have called for more oversight of [biofuel](https://stocktwits.com/symbol/MNEL) feedstocks, saying federal companies need to be as [strenuous](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) in validating imports as they are auditing [domestic supply](https://www.zoominfo.com/c/mission-newenergy/346542889) chains.<br>
+<br>"The Biden administration has actually developed vigorous requirements to validate, not just trust, American manufacturers, and it is crucial that the same scrutiny is used to imported feedstocks," 6 U.S. senators, led by Roger Marshall and [Sherrod](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Brown, wrote in a June 20 letter to federal firms.<br>
+<br>Another letter from 15 senators to the Treasury Department on July 30 prompted the administration to exclude imported [feedstocks](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) like UCO from an additional tidy [fuel tax](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) credit program passed in the Inflation Reduction Act. ([Reporting](https://forest500.org/rankings/companies/mission-newenergy-limited) by Leah [Douglas](https://forest500.org/rankings/companies/mission-newenergy-limited) in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>