velvamarion954/mission-biofuels-india-private-ltd
1
0
Code Issues Actions Packages Projects Wiki Activity

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

Lawrence Bliss 2025-01-11 02:55:49 +01:00
commit 8e99e6cc19
1 changed files with 10 additions and 0 deletions
Show stats Download patch file Download diff file Expand all files Collapse all files

10
US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md Normal file

@ -0,0 +1,10 @@
<br>By Leah Douglas<br>
<br>Aug 7 (Reuters) - The U.S. [Environmental Protection](https://www.pinterest.com.au/missionnewenergy/) Agency has actually [introduced investigations](https://pitchbook.com/profiles/company/51278-86) into the supply chains of at least two eco-friendly fuel [producers](https://stocktwits.com/symbol/MNEL) in the middle of market concerns that some might be utilizing [fraudulent feedstocks](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) for [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) to secure lucrative government [subsidies](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br>
<br>[EPA spokesperson](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Jeffrey Landis told [Reuters](https://www.bloomberg.com/profile/company/MNELF:US) that the firm has actually released audits over the past year, however decreased to recognize the [companies targeted](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) since 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 components, like used cooking oil, can make refiners a multitude of state and federal ecological and environment aids, including tradable credits under a program administered by the EPA called the [Renewable Fuel](https://www.bloomberg.com/profile/company/MNELF:US) Standard. But fears have been that some products identified as used cooking oil are really more affordable and less sustainable virgin palm oil, a product that is associated with deforestation and other ecological damage.<br>
<br>The issue entered focus following a surge in used cooking oil exports from Asia over the last few years that analysts have stated involves unrealistically high volumes relative to the quantity of cooking oil [utilized](https://www.businessnews.com.au/Company/Mission-NewEnergy) and recovered in the region. The European Union is also examining feedstocks over the scams concerns.<br>
<br>The EPA audits started after the company upgraded domestic supply-chain [accounting requirements](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) in July 2023 for sustainable [fuel manufacturers](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) [seeking](https://www.google.com/search?kgmid=/m/0cqd_rb) to [earn credits](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) under the RFS, he said.<br>
<br>"EPA has actually carried out audits of renewable fuel manufacturers since July 2023 that includes, to name a few things, an examination of the areas that used cooking oil utilized in eco-friendly fuel production was gathered," he stated. "These examinations, nevertheless, are ongoing and we are unable to talk about continuous enforcement investigations."<br>
<br>U.S. senators from farm states have actually required more [oversight](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 [biofuel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) feedstocks, stating federal firms ought to be as [strenuous](https://pitchbook.com/profiles/company/51278-86) in validating imports as they are [auditing domestic](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) supply chains.<br>
<br>"The Biden administration has created vigorous standards to confirm, not simply trust, American producers, and it is necessary that the very same examination is applied to imported feedstocks," 6 U.S. senators, led by Roger Marshall 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 advised the administration to exclude imported [feedstocks](https://www.businessnews.com.au/Company/Mission-NewEnergy) 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 and Matthew Lewis)<br>