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 [launched investigations](https://www.bloomberg.com/profile/company/MNELF:US) into the supply chains of a minimum of 2 eco-friendly fuel producers amidst market issues that some might be utilizing deceitful feedstocks for [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) to [protect lucrative](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) government [subsidies](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price).<br>
+<br>EPA spokesperson Jeffrey Landis informed Reuters that the agency has actually released audits over the past year, however [declined](https://pitchbook.com/profiles/company/51278-86) to [recognize](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) the business targeted since the investigations are ongoing.<br>
+<br>The [production](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) from sustainable active ingredients, like used [cooking](https://www.crunchbase.com/organization/mission-newenergy) oil, can make refiners a slew of state and federal ecological and climate aids, consisting of [tradable credits](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) under a program administered by the EPA called the  Standard. But [worries](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) have been installing that some supplies labeled as utilized cooking oil are actually less expensive 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 connected with logging and other ecological damage.<br>
+<br>The concern entered focus following a rise in utilized cooking [oil exports](https://www.pinterest.com.au/missionnewenergy/) from Asia recently that experts have said includes unrealistically high volumes relative to the [quantity](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) of [cooking](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) oil used and recovered in the area. The European Union is likewise examining feedstocks over the fraud concerns.<br>
+<br>The EPA audits started after the company upgraded domestic [supply-chain accounting](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) requirements in July 2023 for renewable fuel manufacturers looking for to make credits under the RFS, he stated.<br>
+<br>"EPA has actually conducted audits of sustainable fuel producers considering that July 2023 that includes, among other things, an assessment of the areas that used cooking oil used in eco-friendly fuel production was gathered," he stated. "These investigations, nevertheless, are continuous and we are unable to discuss ongoing enforcement investigations."<br>
+<br>U.S. senators from farm states have actually required more [oversight](https://stocktwits.com/symbol/MNEL) of [biofuel](https://www.pinterest.com.au/missionnewenergy/) feedstocks, saying federal agencies ought to be as strenuous in verifying imports as they are auditing [domestic supply](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) chains.<br>
+<br>"The Biden administration has created vigorous requirements to validate, not just trust, American manufacturers, and it is imperative that the exact 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](https://www.bloomberg.com/profile/company/MNELF:US) on July 30 prompted the administration to leave out imported feedstocks like UCO from an additional tidy fuel tax credit program passed in the [Inflation Reduction](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>