From 51abd72e6b196ed9c3cd52180332e2526e1b5828 Mon Sep 17 00:00:00 2001 From: Kattie Palma Date: Sat, 18 Jan 2025 13:15:57 +0800 Subject: [PATCH] Add US EPA Says it is Auditing Biofuel Producers' Secondhand Cooking Oil Supply --- ...ofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md | 10 ++++++++++ 1 file changed, 10 insertions(+) create mode 100644 US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md diff --git a/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md new file mode 100644 index 0000000..999e4c7 --- /dev/null +++ b/US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-Secondhand-Cooking-Oil-Supply.md @@ -0,0 +1,10 @@ +
By Leah Douglas
+
Aug 7 (Reuters) - The U.S. Environmental Protection Agency has released investigations into the supply chains of a minimum of 2 [sustainable fuel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) producers amid industry issues that some may be using fraudulent [feedstocks](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) for [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) to secure financially federal government aids.
+
EPA representative Jeffrey Landis told [Reuters](https://www.pinterest.com.au/missionnewenergy/) that the agency has [released audits](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) over the past year, but decreased to determine the companies targeted because the investigations are continuous.
+
The production of [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) from sustainable components, like utilized cooking oil, can earn refiners a slew of state and federal ecological and environment subsidies, consisting of tradable credits under a [program administered](https://www.bloomberg.com/profile/company/MNELF:US) by the EPA called the Renewable Fuel Standard. But fears have actually been installing that some supplies identified as utilized cooking oil are actually more affordable and less sustainable virgin palm oil, an item that is [connected](https://forest500.org/rankings/companies/mission-newenergy-limited) with deforestation and other [environmental damage](https://www.investing.com/equities/mission-newenergy-ltd-company-profile).
+
The issue entered focus following a rise in used cooking oil exports from Asia in current years that analysts have actually stated involves unrealistically high [volumes relative](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) to the amount of cooking oil used and recuperated in the area. The European Union is likewise [investigating feedstocks](https://stocktwits.com/symbol/MNEL) over the scams issues.
+
The [EPA audits](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) began after the firm upgraded domestic supply-chain accounting requirements in July 2023 for eco-friendly fuel producers looking for to make credits under the RFS, he stated.
+
"EPA has actually carried out audits of eco-friendly fuel manufacturers because July 2023 which consists of, amongst other things, an evaluation of the areas that utilized cooking oil utilized in eco-friendly fuel production was gathered," he said. "These examinations, nevertheless, are continuous and we are unable to go over ongoing enforcement examinations."
+
U.S. senators from farm states have actually required more oversight of [biofuel](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) feedstocks, stating federal firms must be as extensive in validating imports as they are auditing [domestic supply](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) chains.
+
"The Biden administration has actually produced energetic standards to validate, not just trust, American manufacturers, and it is crucial that the exact same analysis is applied to imported feedstocks," six U.S. senators, led by [Roger Marshall](https://pitchbook.com/profiles/company/51278-86) and Sherrod Brown, [composed](https://www.bloomberg.com/profile/company/MNELF:US) in a June 20 letter to federal agencies.
+
Another letter from 15 senators to the Treasury Department on July 30 prompted the [administration](https://pitchbook.com/profiles/company/51278-86) to omit imported [feedstocks](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) like UCO from an [additional tidy](https://www.bloomberg.com/profile/company/MNELF:US) [fuel tax](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) credit program passed in the Inflation Reduction Act. ([Reporting](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)
\ No newline at end of file