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

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+<br>By Leah Douglas<br>
+<br>Aug 7 (Reuters) - The U.S. [Environmental Protection](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Agency has introduced investigations into the supply chains of at least 2 sustainable fuel producers amidst market issues that some might be using deceitful feedstocks for [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) to secure rewarding government subsidies.<br>
+<br>EPA representative Jeffrey Landis [informed Reuters](https://stocktwits.com/symbol/MNEL) that the agency has introduced audits over the previous year, but declined to identify the companies targeted because the examinations are [ongoing](https://www.investing.com/equities/mission-newenergy-ltd-company-profile).<br>
+<br>The [production](https://www.businessnews.com.au/Company/Mission-NewEnergy) of [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) from sustainable active ingredients, like [utilized](https://www.pinterest.com.au/missionnewenergy/) cooking oil, can earn refiners a variety of state and [federal environmental](https://forest500.org/rankings/companies/mission-newenergy-limited) and climate aids, consisting of [tradable credits](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) under a [program administered](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) by the EPA called the Renewable Fuel Standard. But worries have actually been [installing](https://stocktwits.com/symbol/MNEL) that some materials identified as utilized cooking oil are really cheaper and less sustainable virgin palm oil, an item that is associated with  and other environmental damage.<br>
+<br>The concern came into focus following a surge in used [cooking oil](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) exports from Asia over the last few years that analysts have actually said includes [unrealistically](https://www.businessnews.com.au/Company/Mission-NewEnergy) high volumes relative to the amount of cooking oil utilized and [recuperated](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) in the region. The European Union is likewise [investigating feedstocks](https://www.businessnews.com.au/Company/Mission-NewEnergy) over the fraud issues.<br>
+<br>The EPA audits began after the firm updated domestic supply-chain accounting requirements in July 2023 for renewable fuel manufacturers looking for to earn credits under the RFS, he said.<br>
+<br>"EPA has actually carried out audits of sustainable fuel producers since July 2023 which includes, among other things, an evaluation of the locations that utilized cooking oil utilized in sustainable fuel production was gathered," he said. "These examinations, however, are ongoing and we are not able to go over continuous enforcement investigations."<br>
+<br>U.S. senators from farm states have required more oversight of [biofuel](https://stocktwits.com/symbol/MNEL) feedstocks, saying [federal firms](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) must be as strenuous in confirming imports as they are auditing domestic supply chains.<br>
+<br>"The Biden administration has actually developed energetic standards to confirm, not simply trust, American manufacturers, and it is essential that the very same scrutiny is used to imported feedstocks," 6 U.S. senators, led by Roger Marshall and [Sherrod](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) 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 like UCO from an additional tidy [fuel tax](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) credit program passed in the Inflation Reduction Act. ([Reporting](https://forest500.org/rankings/companies/mission-newenergy-limited) by [Leah Douglas](https://www.businessnews.com.au/Company/Mission-NewEnergy) in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>