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Add US EPA Says it is Auditing Biofuel Producers' Pre-owned Cooking Oil Supply

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Dewayne Sissons 2025-01-11 21:22:01 +00:00
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US EPA Says it is Auditing Biofuel Producers%27 Pre-owned Cooking Oil Supply.-.md Normal file

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<br>By Leah Douglas<br>
<br>Aug 7 (Reuters) - The U.S. [Environmental Protection](https://www.google.com/search?kgmid=/m/0cqd_rb) Agency has actually launched examinations into the supply chains of at least two sustainable fuel producers amidst industry [concerns](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) that some might be using fraudulent feedstocks for [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) to secure lucrative government aids.<br>
<br>[EPA representative](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [Jeffrey](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Landis [informed Reuters](https://www.businessnews.com.au/Company/Mission-NewEnergy) that the agency has actually introduced audits over the previous year, however decreased to recognize the [business targeted](https://www.businessnews.com.au/Company/Mission-NewEnergy) because the examinations are ongoing.<br>
<br>The production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) from sustainable active ingredients, like used cooking oil, can make refiners a multitude of state and federal environmental and environment aids, consisting of tradable credits under a program [administered](https://www.bloomberg.com/profile/company/MNELF:US) by the EPA called the Renewable Fuel [Standard](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053). But worries have been [mounting](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) that some products identified as utilized cooking oil are actually less expensive and less sustainable virgin palm oil, a product that is associated with logging and other [environmental damage](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).<br>
<br>The issue came into focus following a rise in used cooking oil exports from Asia in current years that analysts have stated includes [unrealistically](https://www.crunchbase.com/organization/mission-newenergy) high volumes relative to the amount of cooking oil utilized and recovered in the area. The European Union is likewise [examining feedstocks](https://www.businessnews.com.au/Company/Mission-NewEnergy) over the fraud issues.<br>
<br>The [EPA audits](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) started after the company upgraded [domestic](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) supply-chain accounting requirements in July 2023 for renewable fuel producers seeking to [earn credits](https://www.bloomberg.com/profile/company/MNELF:US) under the RFS, he said.<br>
<br>"EPA has actually conducted audits of eco-friendly fuel producers since July 2023 which consists of, amongst other things, an examination of the areas that used cooking oil utilized in sustainable fuel production was collected," he said. "These examinations, nevertheless, are ongoing and we are not able to go over ongoing enforcement examinations."<br>
<br>U.S. [senators](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) from farm states have actually [required](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) more oversight of [biofuel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) feedstocks, saying federal companies ought to be as strenuous in as they are auditing domestic [supply chains](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html).<br>
<br>"The Biden administration has produced energetic standards to confirm, not just trust, American producers, and it is vital that the very same scrutiny is applied to imported feedstocks," 6 U.S. senators, led by Roger Marshall and Sherrod Brown, composed in a June 20 letter to federal agencies.<br>
<br>Another letter from 15 senators to the Treasury Department on July 30 advised the administration to omit imported feedstocks like UCO from an extra clean fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>